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Be AntiAmerican with that Tax Refund or Stimulus Check? - Frugal Country Living
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Be AntiAmerican with that Tax Refund or Stimulus Check?

The past administration seemed incredulous when, upon receiving the stimulus check last spring, the American public paid bills with it, saved it, or paid down debt with it. Shame on us for not blowing it and supporting the economy!Hmm

With thousands of people being laid off regularly, what do you think we're going to do with it? If you can't make your mortage payment or buy groceries you are not going to spend $1200 on a big screen TV. I am glad that most of us still have some common sense.

So I am here to be anti-American I suppose. I say save those checks that will be coming soon! I am even paranoid enough to say save them as cash, in an envelope in a fire proof safe. I really don't think a stimulus package will help the economy one iota anyway. Sure, we'll see a small surge in consumer spending when tax refunds begin arriving, but if you looked close it's not on electronic gadgets and down payments on new cars....it's at the dollar store or Walmart for groceries, it's at the propane supplier for heating fuel (it's -13 here as I type, I love my wood boiler). I'd like to see how much of that gets spent at thrift or resale stores. The economy I am afraid will have to rebound somehow on it's own. It's become a large green snarling monster and we think by keeping on feeding it that it'll go away! Throwing money that we don't have at it will not solve the problem.

So I'm here to be against the tide of popular thought. When you get a windfall, no matter how small, save it or pay down debt with it, or better yet..both.

There is no feeling of security like a full pantry, a full woodshed, and cash in a safe in the house.Wink

Comments

 

Gary said:

I hate to disagree, but avoiding debt is very American! One of the major contributors to this financial mess is the amount of debt that the society (individuals, businesses AND government) have taken on. We've been on a 20 year binge.

The best way to solve the problem is to pay down debts. It won't be easy or quick. But, it will put us back on sound financial footing. (unlike some of the bailout proposals that we're seeing)

So I say, be VERY American. Fill your pantry, woodshed and use any extra money you get to pay down debts or save.

Oh, and one last thing, you're still safe putting your money in the bank. If the whole banking system goes under and the FDIC/FSLIC insurance doesn't work, then having paper money probably won't protect you. Because at that point the paper money will have no backing. Only items that you could trade would have value (food, gold, etc.)

Keep on Stretching those Dollars!

Gary

January 27, 2009 8:41 AM
 

Cinnamonhuskies said:

That's very true of the banking situation...although some cash at home is a good idea in case banks do shut down even temporarily. In case of of a total collaspe, i doubt that money tender would mean much.

I really think this is the NEW American dream...to be debt free and happy.

January 27, 2009 3:59 PM

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