Monday, June 16, 2008

What will YOU do with your stimulus check?

I received my “stimulus check” the other day from the government. Getting free money is always nice, but the reasoning behind it is a little silly. So I’ve got an extra $600 now… I guess I’ll go save the economy by spending, right?  Can I get that HD flat-panel TV I’ve been eyeing? Oh… nope that’s way more than $600. How about a blazing fast new computer… nope, that’s more that $600 too. Okay how about a nice vacation? Hmm, maybe a cheap one. Will that even cover airfare for two people? Barely, if we don’t go far. How about a downpayment for a new car? The dealership would probably laugh. Can I even pay rent with this money? Not even half.

I’m no economist by any stretch of the imagination, but from what little I understand, the flailing housing market is part of the reason for the depressed economy. People can no longer afford the ridiculous loans they got for the house they shouldn’t have bought (believe me, I know this feeling all too well) and now foreclosures are skyrocketing. Will $600 save their homes?

No, realistically, I’m going to pay off a little more of my credit card bill, which I’m still trying to get down to a reasonable level after that fiasco with the house. Will the $600 take care of even half of it? Not even close. But it’ll be a little closer to zero than before, so that’s something. So tell me, how much of a difference will $600 in your pocket make in your life?