What gadget should I spend stimulus check on?

[SnowballCamper]

I guess this is what you call a highjacked thread... oh well

[bobblangley]

I am donating most of anything I receive from the government to local organizations that are helping displaced workers in my community.

The remainder, I am going to spend on takeout food at local restaurants that are struggling to make it through this situation.

SO - If you are fortunate enough to not need $1200, please get it into the hands of someone who is in desperate need.

[TappyGee]

Originally Posted by bobblangley

i am donating most of anything i receive from the government to local organizations that are helping displaced workers in my community.

The remainder, i am going to spend on takeout food at local restaurants that are struggling to make it through this situation.

So - if you are fortunate enough to not need $1200, please get it into the hands of someone who is in desperate need.

❤️❤️❤️

[C&G in FL]

Originally Posted by ShelbyM

Yes, better targeting would have probably added quite a bit of time. What seems unfortunate to me is that only about 25% of the money goes to individuals. We can only hope the businesses that get the rest will keep their part of the bargain and retain employees. Hopefully there will be oversight, we'll see. Now about those alloy wheels....

But it’s very important that 75% goes to bail out such important industries like the cruise lines, most of which are not even based in the U.S.

[ShelbyM]

Originally Posted by TappyGee

Mine is going to a young family in need who did not have time to build up emergency savings.

Good plan

[gordon2]

Originally Posted by SnowballCamper

I guess this is what you call a highjacked thread... oh well

I dont think so... you asked, "What gadget should I spend stimulus check on?"

And the resounding answer from most everyone is NONE.

It is a proper reply to your question (IMHO) - Use the CARES check for what it is intended for.

You might want to start another thread titled, "What gadget should I spend my hard earned savings on?

[pegski]

Without sounding sanctimonious, I would encourage anyone who doesn’t feel like this stimulus check is going to change their lifestyle that much consider donating at least some of it to a food bank or a family in need. While I would’ve liked them to have targeted the real people in need that would’ve taken a long time with a lot of bureaucracy. Shoring up my 401(k) just doesn’t seem that important right now while I watch the people that can’t even afford to buy food let alone rent. It breaks my heart to think about kids going hungry and we are in an emergency right now.

[Stevieboy]

Last month and for the first time since I graduated from college in 1979, I became debt-free !!

I bought a new 2018 Casita in November 2017 and have lived in it ever since.

I find myself in the fortunate position of not needing the $1200, which ironically we will borrow from China, the source of the problem !!

But I have been considering buying a generator anyway, so I think I will purchase a dual fuel, electric start, inverter generator.

[herons]

[QUOTE=CPW;774167][QUOTE=gordon2;774134]I could go on but I would end up violating forum rules.

I commend you Gordon. Having read some of the recent threads on this forum you are one of the members that are not “breaking” forum rules while others have apparently decided that the COVID-19 crisis means it is OK to promote personal political viewpoints and conspiracy theories. Hopefully, the moderators have addressed this issue since my last reading.

While I am not promoting socialism, it concerns me that there are people who desperately need financial assistance at this time rather than a “windfall,” which is what this distribution of money, no matter what it is called, for anyone who is not going to have a financial crisis actually is. I speak of those whose biggest concern is where can I get a few rolls of toilet paper, not the people who are struggling to feed family members, pay the rent/mortgage, or the electric bill, etc.

I have emergency savings to help with the next few months of expenses. But that doesn't mean that this is a "windfall". I will use it to replace any emergency savings that I need to spend down. And COVID is still looming ahead for a return in the fall and winter months.

Also, those of us who are no longer in the workforce just lost 20% of their 401K and other retirement savings accounts. We have no means of replacing that money through employment, and that money is crucial in the years ahead for assisted living/nursing care and medical needs as we age.

Right in the bank it goes.

[C&G in FL]

[QUOTE=herons;774269][QUOTE=CPW;774167]

Originally Posted by gordon2

I could go on but I would end up violating forum rules.

I have emergency savings to help with the next few months of expenses. But that doesn't mean that this is a "windfall". I will use it to replace any emergency savings that I need to spend down. And COVID is still looming ahead for a return in the fall and winter months.

Also, those of us who are no longer in the workforce just lost 20% of their 401K and other retirement savings accounts. We have no means of replacing that money through employment, and that money is crucial in the years ahead for assisted living/nursing care and medical needs as we age.

Right in the bank it goes.

Then I would respond that you are NOT in the category of those to whom the stimulus money is a windfall. I am not preaching or perched on a soap box. Everyone is free to do AS THEY SEE FIT. However, imagine someone important to you is in the hospital desperately needing a blood transfusion. The one person with the proper blood type considers a donation, but then decides I may cut myself and I need all the blood I have. I realize this isn’t the same thing but.......
There is a fine line between having a home and being homeless, or having enough to eat or being hungry.

[Jann Todd]

Originally Posted by SnowballCamper

What do I need that I don't know I need? (related to camper & camping) Since we're on lockdown in WA (even many of the federal lands are closed up) we didn't get to do our spring break trip to Ozette Lake. With the stimulus check coming, what are some ideas for camping stuff to get? Something I can tinker with for a while before actually taking it camping would be nice.

Better save a bunch for taxes. Next year your deductions will be reduced by the amount of stimulus you get. So if you are single your personal deduction will be reduced $1200 and if a couple $2400. Figure how much your taxes will be for that plus maybe a tax hike. We plan to bank it for a year and see what happens next January at tax time unless we need it to live on and I hope we don't. If you spend it frivolously I hope you have a lot of money for needs and taxes next year in the bank. Helping businesses when they open up by buying stuff may be good but do protect yourself also. If you spend the money on stuff buy stuff from a local or small business. They are the ones suffering the most. Of course families are also. Big businesses are going to weather this just find.

[gordon2]

Originally Posted by Jann Todd

.. Next year your deductions will be reduced by the amount of stimulus you get. So if you are single your personal deduction will be reduced $1200 and if a couple $2400. ..

Source please? I ask because I am pretty sure that is not correct.

And by the way, a lot of people are not getting the full amount (1200/2400).

[Jann Todd]

Originally Posted by gordon2

Source please? I ask because I am pretty sure that is not correct.

OK I just looked it up and the info has changed. It is free money and is not taxed as originally reported. Hopefully it won't change again. It also will not reduce your deductions next year. We had heard several times we'd have to pay taxes on it or reduce our deduction. Maybe they finally got it straightened out. Thank you for asking since I hadn't looked for a while. But any time the government gives you something it ends up costing you somewhere at sometime.

[sokhapkin]

Originally Posted by gordon2

And by the way, a lot of people are not getting the full amount (1200/2400).

The people who're not getting the full amount are most likely not very concerned about the amount.

[Jann Todd]

Originally Posted by ShelbyM

No, this is incorrect. Anyone can quickly Google it. It won't count as income, it doesn't change your deductions, exemptions or anything else.

I just found that out. I googled it. Originally it was not that way. So glad they finally settled it.

[ShelbyM]

Yep, our posts overlapped so I deleted mine

[Glass House]

So many toys, so little time. 😎😷🤔

[sokhapkin]

Originally Posted by Jann Todd

I just found that out. I googled it. Originally it was not that way. So glad they finally settled it.

Unfortunately, to pay for this "stimulus" our government has no other way but to increase the taxes soon. There is no magic, money can't appear in the treasure coffins from nowhere.

[k corbin]

No problem figuring out what to spend mine on. My list of things I need is way too long. It starts with paying my self employment tax, a trip to the dentist, brakes for my tow vehicle. I could use quite a few more of those checks and none of it will be for frivolous things. So if you can't figure out what to spend it on then send it to me

[sokhapkin]

Originally Posted by k corbin

So if you can't figure out what to spend it on then send it to me

Sounds like the best answer to me.