What WILL/DID you do with that stimulus check? (Round 2)

[12_Gauge_Chimp]

This is the first I've heard of this.

I'll look more into it, but if I'm not eligible for a stimulus check, I'm ok with it. I never expected to get one in the first place.

https://www.irs.gov/newsroom/economic-i ... ed-to-know

I am not typically required to file a tax return. Can I still receive my payment?

Yes. The IRS will use the information on the Form SSA-1099 or Form RRB-1099 to generate Economic Impact Payments to recipients of benefits reflected in the Form SSA-1099 or Form RRB-1099 who are not required to file a tax return and did not file a return for 2018 or 2019. This includes senior citizens, Social Security recipients and railroad retirees who are not otherwise required to file a tax return.

Since the IRS would not have information regarding any dependents for these people, each person would receive $1,200 per person, without the additional amount for any dependents at this time.

Sweet.

I'll check out the site and see if I qualify. Thanks for the info.

[CorpsmanUp]

My wife and I probably won't be getting one.

I would have definitely injected it back into the economy buying stuff.

[Zed Hunter]

I'm debating. I can pay off one credit card and close the account. This will leave me about 1/2 of our "check". I can buy the hearing aids I need, it would pay my co-pay. Or I can down pay on an older Mercedes 240 D. Getting into my F250 4x4 is getting harder.

[RonnyRonin]

I'll just say ZS'rs are better off then I thought by the number of people not getting them

My tax bill is a bit more then the checks, I think we might come out $200 ahead for the household .

I'm largely in the same boat as Woodsghost; trying to sell as many assets as I can early before people really close their wallets. I'm trying to balance keeping cash on hand with having enough supplies and assets to weather possible inflation. Me and my wife lost a car fairly recently and had been sitting on the insurance money for awhile, both waiting for a deal to come along and also to save money on the extra insurance/registration costs for awhile since we aren't as financially secure as we'd like. With the wife working from home now having a few grand in cash certainly feels more useful then a second car at the moment so I'll call that a win.

With all the people like me selling off stuff on eBay and CL this is a good time to be shopping for deals if you have liquid cash.

[woodsghost]

Like Ronny, I'm seeing a lot for sale on Armslist and GunBroker. Which suprises me given all the SIPs. But I suspect people are trying to take advantage of "panic." Goodness knows I am. But I'm not sure a lot is moving at these prices. I think the panicked people don't know to check those places and the stores the panickers check don't want to pay big bucks for the privilege of having my gear in inventory.

Damnit! Don't these people know how to panic right?!?!

I suspect once people get checks there will be another round of spending and once the political season kicks off there will be another round of buying.

[NT2C]

Like Ronny, I'm seeing a lot for sale on Armslist and GunBroker. Which suprises me given all the SIPs. But I suspect people are trying to take advantage of "panic." Goodness knows I am. But I'm not sure a lot is moving at these prices. I think the panicked people don't know to check those places and the stores the panickers check don't want to pay big bucks for the privilege of having my gear in inventory.

Damnit! Don't these people know how to panic right?!?!

I suspect once people get checks there will be another round of spending and once the political season kicks off there will be another round of buying.

The fun part will be when all the "panic bought" guns and other gear starts hitting CL and local pawn shops. Gonna be some real good deals to be had for the savvy shopper when we're past COVID-19 and trying to put our lives back in order with a deeply wounded economy looming over all. A lot of that stuff is going to be put up for sale by the panic preppers and the "no one but the police should have (insert type or 'all' here) guns" folks who bought one when they panicked and now don't want it in the house or want to recoup the money spent. They won't get near what they want for it in such a buyers market though.

[woodsghost]

Like Ronny, I'm seeing a lot for sale on Armslist and GunBroker. Which suprises me given all the SIPs. But I suspect people are trying to take advantage of "panic." Goodness knows I am. But I'm not sure a lot is moving at these prices. I think the panicked people don't know to check those places and the stores the panickers check don't want to pay big bucks for the privilege of having my gear in inventory.

Damnit! Don't these people know how to panic right?!?!

I suspect once people get checks there will be another round of spending and once the political season kicks off there will be another round of buying.

The fun part will be when all the "panic bought" guns and other gear starts hitting CL and local pawn shops. Gonna be some real good deals to be had for the savvy shopper when we're past COVID-19 and trying to put our lives back in order with a deeply wounded economy looming over all. A lot of that stuff is going to be put up for sale by the panic preppers and the "no one but the police should have (insert type or 'all' here) guns" folks who bought one when they panicked and now don't want it in the house or want to recoup the money spent. They won't get near what they want for it in such a buyers market though.

I hope that is the end of this story. The other ending is a bit more "sporty" and "panic-y." I'd rather that not happen. But "what I want" and "what actually happens" have only occasionally coincided.

[JT42]

No check for me.

[JT42]

I've been waiting for a downturn to rebuild my cottage (with a huge pantry!). I think the economy will be bad enough after this to finally be able to get tradesmen to show up at a reasonable price. So I'm packing money away.

That's one of the reasons I haven't built on my land yet--the economy has been way too good. When I go to build, I want those boys to be hungry for work.

[taipan821]

No check for me.

While the Australian government is handing money out fist over fist...since I'm still working I don't get any of the stimulus payments either.

mind you, I'm not complaining

[CG]

Some Redditors have noted that when they've paid down their credit cards in the last few weeks, the credit card companies have been lowering their limits to reduce their liability should the person default.

If you're planning on paying off debt with your check, please keep that in mind if your credit cards are part of your plan for emergencies.

[MPMalloy]

Some Redditors have noted that when they've paid down their credit cards in the last few weeks, the credit card companies have been lowering their limits to reduce their liability should the person default.

If you're planning on paying off debt with your check, please keep that in mind if your credit cards are part of your plan for emergencies.

CC companies are trying to preempt someone running the card back up?

[Stercutus]

Some Redditors have noted that when they've paid down their credit cards in the last few weeks, the credit card companies have been lowering their limits to reduce their liability should the person default.

If you're planning on paying off debt with your check, please keep that in mind if your credit cards are part of your plan for emergencies.

Yep, It's just like January 2009. I have gotten three requests from credit card companies to "update my income information" in the last three weeks. I didn't respond then either and they promptly cut our credit limits by 70%. Although at that time our income level was steady and not increasing like these days.

[Beowolf]

Some of what I will get will be donated to a friend to pay for his monthly chemotherapy treatments. I already give what I can, so this will help him.

Some will donate to at least one fund of a local business to help pay rent and employees' paychecks.

A little may go to pay debt. Maybe I'll spend $100 on myself, but I have a job that won't get impacted by lockdowns and stay-at-home orders. So I'll give as much as possible to those who need it more than I do right now.

And when we get through this, I'll better plan like I used to. I definitely got caught with my pants half down when it comes to preparedness, but luckily things could have been much worse regarding the supply chain.

[NT2C]

Some of what I will get will be donated to a friend to pay for his monthly chemotherapy treatments. I already give what I can, so this will help him.

Some will donate to at least one fund of a local business to help pay rent and employees' paychecks.

A little may go to pay debt. Maybe I'll spend $100 on myself, but I have a job that won't get impacted by lockdowns and stay-at-home orders. So I'll give as much as possible to those who need it more than I do right now.

And when we get through this, I'll better plan like I used to. I definitely got caught with my pants half down when it comes to preparedness, but luckily things could have been much worse regarding the supply chain.

You know you can always call on nearby friends for help.

[Beowolf]

Some of what I will get will be donated to a friend to pay for his monthly chemotherapy treatments. I already give what I can, so this will help him.

Some will donate to at least one fund of a local business to help pay rent and employees' paychecks.

A little may go to pay debt. Maybe I'll spend $100 on myself, but I have a job that won't get impacted by lockdowns and stay-at-home orders. So I'll give as much as possible to those who need it more than I do right now.

And when we get through this, I'll better plan like I used to. I definitely got caught with my pants half down when it comes to preparedness, but luckily things could have been much worse regarding the supply chain.

You know you can always call on nearby friends for help.

Absolutely. I'm just not as deep on things as I used to be. For example, only a few ounces of isopropyl alcohol when I'd prefer to have at least a bottle in reserve; 1.5 tubs of Clorox wipes when I'd rather have 3+; two extra rolls of paper towels where I'd like to have four; and the like. I got caught in one of those I'll-get-to-it situations where I was thinking about it, but I just hadn't done it.

And then here we are. Thankful for grocery delivery to keep me from needing to really go out and about, though.

[lailr]

Look like I'll be putting in a heat pump...yay!!!

[MPMalloy]

Look like I'll be putting in a heat pump...yay!!!

In the CUCV?

[lailr]

Look like I'll be putting in a heat pump...yay!!!

In the CUCV?

No the housing heat pump...it just crapped out....lol

[NT2C]

Look like I'll be putting in a heat pump...yay!!!

In the CUCV?

No the housing heat pump...it just crapped out....lol

Might be an easy repair. Unless the compressor shit the bed it could be a simple motor replacement, leak repair and recharge, bad relay, etc.

[CrossCut]

I'm considering a Yaesu FT-450D. Installing the antenna looks less of a challenge than convincing the wife however.

[NT2C]

I'm considering a Yaesu FT-450D. Installing the antenna looks less of a challenge than convincing the wife however.

Not a bad rig though.

[lailr]

Look like I'll be putting in a heat pump...yay!!!

In the CUCV?

No the housing heat pump...it just crapped out....lol

Might be an easy repair. Unless the compressor shit the bed it could be a simple motor replacement, leak repair and recharge, bad relay, etc.

It's the compressor....makes as much sense to buy a new unit with a warranty

[RoneKiln]

I've been waiting for a downturn to rebuild my cottage (with a huge pantry!). I think the economy will be bad enough after this to finally be able to get tradesmen to show up at a reasonable price. So I'm packing money away.

That's one of the reasons I haven't built on my land yet--the economy has been way too good. When I go to build, I want those boys to be hungry for work.

On the flip side, if I'd already had the place rebuilt, I'd have a spare room to fill with a stimulus check worth of staple dry goods.

The large pantry would already be filled.

The lack of usable space is severely limiting my willingness to store as much goods as I would like to. I not only have a severe limitation of space, I also need to be able to work in that space.

Maybe I should use the stimulus check to order a medium size rubbermaid shed to store preps in till the place is rebuilt. I could resell the shed once the cottage is rebuilt.