Second Stimulus check - What are you going to do with it? - page 2.

exstasie

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Quote from: NotATether on August 03, 2020, 08:40:25 AM

Quote from: LeGaulois on August 03, 2020, 07:34:48 AM

The stimulus check is supposed to be an aid for the lower/middle class that got financial difficulties. By logic it should be used to buy food, pay the bills, the rent, etc. I don't consider it normal if people use it to pay for holidays or something mentioned in OP like video cards, cryptos,...

In this case, it means they don't really need help finally.
~snip

This.

Stimulus checks are supposed to be used to pay expenses for the many people who became unemployed and have no salary to fall back on to pay their living expenses.

Unemployment benefits are for the unemployed.

The main purpose of direct stimulus payments is getting people to spend money, to "stimulate" the economy, with the goal of preventing deflation. The social safety net aspect is secondary, if that, especially when you consider these payments are tiny when compared to the cost of living in the US.

Someone making $70K a year gets the same $1,200 payment as someone who is homeless. Obviously some people need the money more than others.

MCobian

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The United States government provides stimulus checks to be used to help buy daily necessities so as not to starve those who are not working.
If there is still left over, it must be used for important things, namely paying various bills. But if you don't have a bill, it's certainly better used
for investment so that the money does not run out quickly and can generate profits. The best investment choice is to buy cryptocurrency.

shoreno

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list are mostly gadgets and personal gratification . you forgot to add gambling . gambling is mostly people will spend thier stimulus . i dont have mine and i dont know how to avail of those . maybe because im just new here on the place where i currently reside but i saw my neighbors got rice and some groceries instead of cash. thats way more better if i were to ask because we saw above on where would people spend their stimulus, they only spend it on useless things

Reid

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New computer and if there's a change then I will just add it to my bills payment.

I already got a good amount in cryptocurrencies and I think I will stop with that for now until we go back to our normal daily living.
If ever that will happen again. I hope.
Buying the computer is meant for my wife to get back on her job. That way, we can start experiencing how working from home is and also to help cover other things that needs to be paid.
We need to adapt with the environment too.

NavI_027

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Dude not only the Americans can relate with this scenario because we are also experiencing the haed effects of pandemic and stimulus package is also one of the ways of our government to ease the pain of everyone Cheesy

. Here in our country, we already accepted the first tranche of Social Amelioration Program (SAP) and the second one is already processing. What I don't know is if we are still included on it since the situation here in our province is not as severe from the urban areas.

Anyway, if ever we received again, we will use it mostly to pay our debts and bills then the rest would be our savings. No room for leisure things at this moment because there's no vaccine yet.

batang_bitcoin

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If I'll be receiving a stimulus, I'm not from the US. The things that I'll buy will be divided into many things. I won't be buying a new computer but I'll be upgrading so that's the first one.
The next will be investing in bitcoin and a lower portion for the stocks if it's essential. And the remaining balance, I'll save it for an emergency fund so that if I don't have a budget anymore it will be for essentials.

Rengga Jati

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Unfortunately, I am not from the US. In my country, there is such a kind of stimulus but only for certain societies. They are the ones that is lack of income, have no job, and also have not enough money even for food. Normally if someone gets the stimulus, what they will spend during this pandemic:
1. For food
2. For daily needs
3. For bills
Normally, they will not pay attention to investment because they can only earn for food and they have relieved to accept the stimulus.

However, if it is about ourself, the stimulus that is more than it, for nonpremier needs, here are my choices:
Video card(s)?: big no, don't need such kind of this.
New Computer?: Probably because sometimes my device is error
Stocks?: thinking of buying gold, but let's see the market chart of Gold
Pay off credit cards?: do not have any credit cards, so no.
Buy Crypto?: yes if there is still any funds, crypto investment in top coins moreover BTC and ETH
Bills, bills, bills?: If there is still any bills, of course, it must be

Sanitough

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Quote from: Febo on August 03, 2020, 03:49:32 PM

Quote from: btcgolong on August 03, 2020, 01:02:05 AM

Second Stimulus check - What are you going to do with it?

How sure are you it will happen? Do you have any links where it is planed to happen?

I believe most will spend it for similar as in first case. Rent, and repay loans.

Agree, not everyone are capable to invest at the moment, government are giving Stimulus checks so it will ease the burden people are carrying now due to the pandemic. For most of us, this is not the time to invest, but the time to save up and minimize spending as we don't know if there's worst than the current situation. When the government is giving money instead of jobs, that's not a good sign of the economy's future.

GreatArkansas

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For me, I'll only invest it in some of my "wants" after I already bought my "needs", such like paying bills, buying foods and primary nececesities on my family before buying some of my personal "wants" or even investing it in cryptocurrency or stocks. Althought, buying stocks or cryptocurrency are kinda good investment for that money came from government, but buying those needs of the family is priority which is that is also one of the reason why stimules checks are distributed.

Harlot

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I think Bernie Sanders said that a 1,200$ payment for each household "won't cut it" for the bills that piled up and the jobs that are lost and he even said 2,000$ monthly should at least be the amount. With that being said depending on the situation of the family I think majority will see that 1,200$ per household is something that they need to be thrifty about and they can't think about investments nor anything about unnecessary expenses since if their jobless they won't have any source of income and the money they are getting is just from the this aid.

Febo

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Quote from: btcgolong on August 03, 2020, 01:02:05 AM

Second Stimulus check - What are you going to do with it?

How sure are you it will happen? Do you have any links where it is planed to happen?

I believe most will spend it for similar as in first case. Rent, and repay loans.

btcgolong

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Quote from: LeGaulois on August 03, 2020, 07:34:48 AM

The stimulus check is supposed to be an aid for the lower/middle class that got financial difficulties. By logic it should be used to buy food, pay the bills, the rent, etc. I don't consider it normal if people use it to pay for holidays or something mentioned in OP like video cards, cryptos,...

In this case, it means they don't really need help finally.

It's like if you give $10 to a homeless begging in the street and instead to buy food you see him buying the latest iPhone (ok iPhone doesn't cost 10 bucks but you get the point).

It should be mandatory that it should only be used in certain places, such as supermarkets.
The same people who complain because they don't have enough money, living paycheck to paycheck, but when they get free money, see what they do with it...

Then they will also complain because the country's deficit increased. Free money that will be paid by paying higher taxes...from people who weren't eligible to the stimulus by the way.

Along those lines...

There was/is talk of a $4000 vacation "credit" that could be used (spent) over the next 3 years - the only stipulation is that you had to vacation in the United States.

So for example; you go to Disney land next year, you spend $5000; you can get a Tax Credit of $4000 (not a tax deduction).

Strange stimulus I guess, but all things considered; I would be booking my trip to Disney !

The Sceptical Chymist

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Quote from: NotATether on August 03, 2020, 08:40:25 AM

I think however that some people will be using their checks for entertainment expenses, and if they're giving checks to people who don't need it, then their rules aren't stringent enough and this is basically injecting more money into the economy which is an outcome we don't want, since this is virtually creating more money and will cause a deprecation of the dollar eventually.

Of course people are going to spend free cash on entertainment and other non-necessities. I think the majority of US citizens aren't in danger of starvation if they don't get a second stimulus check.

But the question is, what am I going to do with it. My bills are paid at the moment, so I'll probably just save it or invest it in the stock market in case I need it later. I'm not quite sure what bitcoin is going to be doing, and since its price has increased a lot over the last week or so, I don't think I'll be buying any. I love bitcoin, but it's looking pretty risky right now.

Quote from: ashmodeus on August 03, 2020, 09:17:16 AM

if buying crypto is allowed , why not,since we know crypto is on fire from 2 weeks ago.

Yeah, it's allowed. The government just sends you a check or deposits funds directly into your bank account, and you're free to do whatever you want with it. As to your second statement, since bitcoin is on fire, that's the reason I'm reluctant to buy any. I don't think it's near the top for the year, but bitcoin is so unpredictable that I wouldn't chance it.

ashmodeus

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if buying crypto is allowed , why not,since we know crypto is on fire from 2 weeks ago. well i am not US citizen , so i dunno what business is promising in the middle of a pandemic like this , on my country,making masks from cloth is a profitable venture for now , so 40% for investing on crypto, the rest is to buy the need to make a mask.

NotATether

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Quote from: LeGaulois on August 03, 2020, 07:34:48 AM

The stimulus check is supposed to be an aid for the lower/middle class that got financial difficulties. By logic it should be used to buy food, pay the bills, the rent, etc. I don't consider it normal if people use it to pay for holidays or something mentioned in OP like video cards, cryptos,...

In this case, it means they don't really need help finally.
~snip

This.

Stimulus checks are supposed to be used to pay expenses for the many people who became unemployed and have no salary to fall back on to pay their living expenses. I think however that some people will be using their checks for entertainment expenses, and if they're giving checks to people who don't need it, then their rules aren't stringent enough and this is basically injecting more money into the economy which is an outcome we don't want, since this is virtually creating more money and will cause a deprecation of the dollar eventually.

LeGaulois

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The stimulus check is supposed to be an aid for the lower/middle class that got financial difficulties. By logic it should be used to buy food, pay the bills, the rent, etc. I don't consider it normal if people use it to pay for holidays or something mentioned in OP like video cards, cryptos,...

In this case, it means they don't really need help finally.

It's like if you give $10 to a homeless begging in the street and instead to buy food you see him buying the latest iPhone (ok iPhone doesn't cost 10 bucks but you get the point).

It should be mandatory that it should only be used in certain places, such as supermarkets.
The same people who complain because they don't have enough money, living paycheck to paycheck, but when they get free money, see what they do with it...

Then they will also complain because the country's deficit increased. Free money that will be paid by paying higher taxes...from people who weren't eligible to the stimulus by the way.

Botnake

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It's an aid from the government but I would invest it rather in crypto than just save it in the bank waiting for inflation to hit its value. I have a job and business and I am earning well, so I guess that's just a bonus for me now, I know we have different answer as that is based on the individuals current situation, so if anyone lacks on their basic needs, they should use it according to its purpose.

Coyster

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Stimulus checks is not a different form of money from the one you own and use everyday, there's no need to spend your stimulus bonus if you don't have any need you want to get with it, or if you were not planning on increasing your investment in bitcoin or any other sector.

Oasisman

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Since you're in the Bitcoin forum, you'll be expecting a lot of answer that investing in cryptocurrency is the best option.
Though the real purpose of stimulus checks is for the taxpayers to spend to push the economy forward during the economic recession, but I guess it is the wisest decision to invest this check anywhere your comfortable with (Btc or stocks for example) than spending it to something unnecessary. Btc somehow rise a bit during the 1st stimulus check release, and people are speculating some investors from the US used these checks to buy Btc.

I'm not from the US, but we too have financial assistance during calamities. In my case I haven't prioritize investment rather spending it to basic/household necessities as the amount I have recieved isn't that much as the stimulus checks, plus I haven't been able to go to work for a month due to pandemic. So, that sure depends on the financial status of an individual.

But as what I've noticed, people in the US are fond of using gadgets for entertainment. Take Apple company as an example, they have grown their earnings amidst the pandemic on May, I guess that also because of the 1st stimulus checks. So, most probably people their would do the same in the second round of distribution.

slapper

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Well, I'm not able to become a US citizen. However, If I were, I would use the money to invest some on technology projects, stocks, including bitcoin and ethereum. Since the world is facing a dangerous pandemic, holding a digital asset has more chances to give you a large profit in the near future. As you know, nothing can stop the development of new technology and research. Moreover, cryptocurrencies are told to be higher and stronger. People are aware of the situation where governments and companies take control of everything, especially their life. Buying cryptocurrency is way more than making an investment for your financial plan but also for your future traits and your own privacy

However, as I saw by myself, not everyone is capable of buying stuff like that. They have to struggle for food, living, and many other things. Being a US citizen is kinda tough and if you can't deal with that, you can fall to the bottom of the society. Making an investment may be the only way to escape the situation like that

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