Social Question

Jeruba's avatar

If you received a stimulus check that you didn't really need, what would you do with it?

Asked by Jeruba (51554points) 1 month ago

Spend it? Give it away? Send it back?

If you would give it away, would that be to one person or to some sort of group or agency?

How would you decide?

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35 Answers

janbb's avatar

Probably to an organization that fights against food scarcity in this country. I see that as one of the many crying needs right now and in the world at large.

Cupcake's avatar

Ultimately will probably go towards (a small portion of) medical expenses/evaluation for school-aged children who are now exhibiting signs of anxiety and ADHD, possibly circumstantial given their remote learning environment for a week less than 12 months and their lack of socialization.

KNOWITALL's avatar

We have been some of the lucky ones who kept working through Covid, so we’ve discussed each payment and what to do with it.

The first one we saved (since we weren’t sure about anything.)
The second I paid a car repair for my mother, and gave some to two different local charities. And we bought Christmas with that cash.
This third one, we haven’t decided yet. We will probably use it to do some remodeling this year aka stimulate the economy.

JLeslie's avatar

I put mine in savings. My husband just bought a stationary bike, so I guess we could say the payment went towards that, but not really.

I donate food, money, and other things to various charities or just to help a friend or family member, and the stimulus check didn’t change how much. I know it sounds better to say I earmarked it to help a specific charity, but I haven’t. I don’t think of money that way.

The last thing I did was help my BILs who are starting a new business, I ordered from them and sent some to friends near where my BILs live hoping to help word of mouth.

I’m surrounded by a fairly poor area and there are always food pantries to give to and schools needing equipment, the community here helps a lot, it’s really amazing. It wouldn’t surprise me if people here decided to use their stimulus checks that way.

I’m hoping they don’t give checks to everyone again. Give more to those who need it. Giving it to me means the money is worth less. I get it and I pay a high tax on the $500. If someone is low income they may pay little to no tax and really get the whole amount.

chyna's avatar

As far as I know, the stimulus is not taxed.
I will put mine in savings and see what happens in the future with Covid.

KNOWITALL's avatar

@chyna That was my understanding as well.

@JLeslie I understand that, we felt the same way.

I’m on a ton of local Facebook sites, it’ll break your heart all the folks just asking for food for the kids, gas to get to work or dog/cat food. This is really hitting the fixed income people hard here.

Demosthenes's avatar

Well, I suppose I’m one who doesn’t need a stimulus check. I don’t make much money but I have wealthy parents who are always willing to help me out. So in essence it’s wasted on me. I’d be willing to donate it to a worthy cause (hopefully something immediate and related to the fallout of the pandemic). The last stimulus check has basically just been sitting in my bank account untouched. I guess I have some time to figure out what to do with it (that doesn’t involve spending it on myself).

RocketGuy's avatar

@Dutchess_III – that’s why they gave it to you. Trickle up always works.

Dutchess_III's avatar

I’d more than likely pay bills.

stanleybmanly's avatar

I’m wondering how they determine the form of payout. My wife found both of her stimulus checks deposited directly in her account, while I received a check in the mail the first time and a debit card the second time around. Last week I removed the card from under the roll top to the kitchen table to force me to dwell on what to do with it. I plan to carry it with me on excursions from the house. There are certain to be opportunities at the grocery stores. Nearly every trip, there is someone in line forced to lower their grocery bill upon receiving it through returning items before bagging. Those trips are infrequent, but I wonder how long the card will hold up.

filmfann's avatar

I gave mine to someone who was really struggling.

YARNLADY's avatar

We are using ours to continue supplementing our son’s income, it has become more urgent because his wife worked at Fry’s Electronics which abruptly went out of business, leaving her unemployed.

Call_Me_Jay's avatar

If someone handed me $1400 and said, “spend this quickly, but not on yourself”, I might give it anonymously to someone I work with who is raising kids on a low income. I am working my first non-desk jobs in 25 years, and I had forgotten so much about the world of modest means. Car problems, child-care problems, elder-care problems, housing problems…

I’m used to young single people getting by on little, but my friends with families are all relatively well off (or very well off).

JLeslie's avatar

I didn’t know the stimulus is not taxed.

Dutchess_III's avatar

Y’all need to pm me for my address!

stanleybmanly's avatar

What happens if we show up?

Dutchess_III's avatar

You give me your stimulus money then we drink wine and talk about Jellies!

stanleybmanly's avatar

Pay to gossip—sounds ideal! Maybe I should devote the money toward an “investment” in lottery tickets. I wonder if I would be taxed on the winnings were I to sign every dime over to charities?

smudges's avatar

I’m confused. @KNOWITALL You’ve received at least 2 stimulus checks already, and have either received or are waiting on a 3rd? And @stanleybmanly, you and your wife have each received 2 payments?

I’ve only received 1.

JLeslie's avatar

@smudges Maybe you made too much money in 2019 to receive a second stimulus.

chyna's avatar

I’ve received 2 payments also.

KNOWITALL's avatar

@smudges Correct. You may want to check the website on your status.

smudges's avatar

@JLeslie I’m on SSDI and am at or below the poverty line.

I’ll look into it. Thanks, guys!

smudges's avatar

@KNOWITALL & @stanleybmanly I’m sorry to bug you, but I want to make sure this is correct. In my credit union account I see an IRS deposit on April 29th for $1,200.00, and another deposit on Jan 4th for $600.00. Do those amounts and dates sound right?

chyna's avatar

Yes. Although you weren’t addressing me.

smudges's avatar

Thank you @chyna!! So I didn’t get cheated, I just have a very bad memory! LOL Seriously, how do you forget receiving $1,200.00!?

janbb's avatar

^^ One do wonder! lol

JLeslie's avatar

@smudges Yesterday I actually received my letter from the treasury that I would be getting a check or debit of my second stimulus. I already received it weeks ago. This happened with the first one also, I received the letter after the fact. The first time I received a direct deposit. The second time I received a check.

jca2's avatar

I’d put mine in the bank, for a rainy day.

JLeslie's avatar

@jca2 Save it for when taxes go up to pay back the money. Lol.

RocketGuy's avatar

I need a stimulus check to pay for my increased taxes due to the Republican tax “cut”.

stanleybmanly's avatar

@smudges that’s the way it worked for me. Only both times, my check and debit card arrived several weeks behind the magical appearance of my wife’s deposits. In truth, I was surprised by the first check. I did not believe at the time that I was eligible. When I showed it to the wife, she looked at me impishly and asked “are you gonna send it back?”.

stanleybmanly's avatar

Congress just approved an additional $1400 check for individuals and Biden is all for it. So—-

Stache's avatar

I would not worry about planning meals for the next weeks/months and buy takeout or delivery from locally owned restaurants. I would also give a very well deserved tip.

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