Comments on: Eating our stimulus payment

By: mike d

mike d — Wed, 09 Jul 2008 17:53:35 +0000

we put the $600 “kids” portion of our check into their mutual fund accounts. We figured we didn’t need the cash, but THEY might 20 years from now!

By: Kara McGuire

Kara McGuire — Tue, 08 Jul 2008 21:42:50 +0000

Good point, David. In fact, Matt and I just spoke last night about how we should put the remaining $600 in accounts for our kids.

By: David

David — Tue, 08 Jul 2008 00:06:54 +0000

This is why the stimulus is a joke: Cub Coupons merely shift the payment to Cub - I doubt there is a lot of net new consumption going on with Cub shoppers.

A true stimulus would boost consumption of capital goods - not merely shift consumption of consumables.

I prefer to call it an intergenerational wealth transfer: my kids are paying later for other’s consumption now…

By: Kara McGuire

Kara McGuire — Mon, 07 Jul 2008 22:50:54 +0000

Phil, I’m glad you asked. I should clarify.
I don’t have a credit card debt for which I pay interest. But I wouldn’t have enough in checking to pay for my current bill without dipping into savings if it weren’t for this $600.

Then again, the rate on this card is 0 percent until September…but since my free ride is ending, I don’t want to add to my balance.

Whether to take advantage of the zero percent on all purchases and balance transfers for 15 months with no balance transfer fee credit offer we received in mail is for another post

By: robin marty

robin marty — Mon, 07 Jul 2008 18:23:21 +0000

we’re planning on the same thing once we finally get ours, except that after our $1200 the other $300 goes into savings. Since I just dropped an ungodly sum this weekend stocking up on formula, diapers and wipes for the next two months, these grocery cards might actually last us a significant amount.

And then our grocery money goes straight in savings. How boring is that?

That is, if we ever get our check. we’re the last to get ours.

By: Phil

Phil — Mon, 07 Jul 2008 17:18:15 +0000

Kara,

If you’ve got 10k lying around (three posts back), why would you have acredit card debt?

Are you a financial planner?

Do your CC debts exceed 10K.