This morning when my wife and I checked our bank account we saw that $1200 had been deposited. Without a second thought we made a $1200 payment on one of our credit cards. The whole idea of a stimulus package seems a little ridiculous to me. Do our elected officials really think that $600 per person is going to do anything in the face of massive drops in housing prices? They need to start encouraging people to save their money and invest, not spend.
I encourage everyone to use your check from the government to do something truly productive. If you have any debt at all, pay it down. It doesn’t matter if it’s credit card debt, student loans, an auto loan, or a mortgage. Paying down your debt now means you pay less interest later. If you are debt free then save that money. Put it in an emergency fund or use it to open a retirement account.
If none of these work for you, if you’re already debt free, if you’ve already fully funded all of your retirement account options, and you have a sizable emergency fund . . . you probably didn’t get a check. 
Don’t listen to the government. Don’t listen to the media. Taking care of your own wealth is by far the most productive thing you can do for the economy. Don’t blow it.
0 Responses to “We received our stimulus check today”