Tax Rebate Incentive Checks

[MouseWife]

Originally Posted by Alex

On the plus side, though, this is great economic stimulus. The government "tricked" them into spending $1200 and it only cost taxpayers 10% of that.

Ha, I had a thought like Alex. I work retail and I have heard people talking about how they were going to spend theirs, too, or that they are spending it. Yep, it sure did get people back into buying but it is bs.

I figured it would just help out, with everyday expenses rising, it isn't practical to blow it.

I've been calling to see if I can get a room {as opposed to housekeeping camp} for this weekend. The only thing available? The Awahnee. It would be almost $1,000 for two nights. Wow, just about the amount of what ever check we are supposed to get. But, I figure nah because we aren't intending to be in the room except to sleep {wait, what am I saying?} and so why waste that money?

I am horrible with money. I'll go hang out with Gemini Cricket, Brad, and whomever else falls into our clique.

Still nada for us.

[BarTopDancer]

I'll be in the bad with money clique too. Dumping this, and my tax refund (because giving the government an interest free loan is easier than paying in April) towards the principal of my car were a few of the smartest financial moves I've done lately.

[MouseWife]

BTD~ those are some fantastic financial moves! Big ones, so, they definitely redeem you.

The best thing I've done? Well, one, not stock up at the REI sale but second, I had financed my bed. One of those interest free loans up until a certain date? I didn't pay their minimum {which of course would have never paid it off in time} and paid it off a couple of months early. That felt good.

And, my son, he had wanted a nice television. Well, we financed a t.v. for him and told him even though they asked for $10 minimum, he was paying at least $100 a month. That got him just under the wire for having to pay the interest. He did it so we have allowed him to finance a laptop. He knows how important it is to not have to pay that interest so he is making big payments towards this, too.

This, though, is another way that they get people. The interest on the bed if I hadn't paid it? I think it was about $300. Maybe only $200 but still. And, my son would have had a balance of over $400. on his t.v. if he hadn't paid it. And then they'd have added interest to that balance, as well.

A lot of people don't see that minimum due on these type of loans and see if it will have the loan paid off...never does. Even this bed, it was higher than the t.v. but still not enough to pay it off.

Oh, I digress....

Congrats on getting closer to paying off your car!!!

[Moonliner]

I think I'd have to put myself in the somewhat anal (but in a good way) money management school.

My personal philosophy has always been to avoid credit card debt like the plague and refrain from purchasing any consumer goods like electronics or furniture on any type of payment plan. I had a futon for years until I had the cash for a nice bedroom set.

When I first started pulling in a professional salary, People suggested I get a new car. I kept my junker instead and for almost three years made regular monthly payments to myself. Then I used that to purchase a new car.

It's tough sometimes, I was well into my 40's before I purchased my first really cool TV (46" LCD 1080p goodness) but overall it has left me with no real money worries along with the ability to have the occasional VIP splurge and that is well worth the cost....

[Gemini Cricket]

Monthly payments to myself. I like the sound of that.

[Moonliner]

Originally Posted by Gemini Cricket

Monthly payments to myself. I like the sound of that.

At the time I had a seperate savings account with an automatic monthly draw from checking. It made it easier.

[Kevy Baby]

Originally Posted by Moonliner

I think I'd have to put myself in the somewhat anal...

Does this mean you are only a partial pain-in-the-ass?

Originally Posted by Gemini Cricket

Monthly payments to myself. I like the sound of that.

Yeah, but wait until you see what happens when you skip a payment

[Strangler Lewis]

Apparently there was an NPR piece about how the government was targeting people who would "waste" their stimulus payment on paying down credit cards rather than buying something with it. So the IRS would spend their rebate for them. One couple got a snowblower. Another couple got an air conditioner. As to the latter, the husband was thrilled but the wife was annoyed because not only did they not get cash, their electric bill would go up.

Alas, the report aired on April 1.

[Cadaverous Pallor]

Originally Posted by Moonliner

Well not quite the entire country. There are a few people who are benefiting greatly from the real estate downturn....

First time home buyers (with good credit), people looking to invest in a second/vacation home, Landlords with rental properties, etc....

If the first time buyer works any job except landlord, and the landlord is a consumer, then they are affected by this downturn.

I was hearing about how there are other stupid culprits here...businesses that opened way too many franchises during the upturn, with big names like Ann Taylor and Footlocker closing stores. My city's gov't lost $2 mil last year, so that will affect a lot of gov't services (and jobs) across the board.

Everyone is affected by the stupidity of others. I'm going to try to be smart, if only for the good of the nation.

[JWBear]

I still like Bill's idea of donating it to the DNC.