Over the past few days I have been debating as to how to spend my economic stimulus check which comes June 20. My first thought was to buy an Apple Macbook but my check isn’t that much! I will get around to making the investment in a new laptop in a few years. The one I have now is only two years old.
My next idea was to open a separate bank account with the money and set up a new savings plan with plans to use it on a rainy day. But then I figured that defeated the purpose of the economic stimulus plan since it would in no way help stimulate the economy. Plus I already have a savings account and some money stored away.
Another thought I had was to invest it in the stock market. I have had some stocks in the past but currently do not own any. I thought this would not only be a great way to help the economy but could also double or triple my money. But after a good talk with my brother (the stock market analyst of the family) I decided against it.
I also considered saving it and putting it toward my school bill in the fall, but that thought quickly left me.
So here I am with money in my pocket, just itching to be spent. And not only do I WANT to spend it, but the government is telling me I HAVE to! I have never had problems spending money before. I have easily dropped a couple hundred at the mall or on a spur of the moment purchase of a new gadget or toy. So why is this so hard?
But after some long time of thinking and debating I have decided to do two things with it. I believe they will most help the economy and take full advantage of this opportunity I have to help out struggling companies. Here they are:
My first purchase is going to be an Apple iTouch. My current mp3 player has been lacking and I have had my sites on a new one for quite some time now. I use this mp3 player mostly at the gym and while doing various different things around the house when I do not wish to carry my laptop around. I also use it for long trips or car rides. I travel regularly and find myself wearing down the battery on my laptop by listening to music or watching movies. But the iTouch does all that and more. It has 32 gigs of storage (7,000 songs, 25,000 photos, and 40 hours of video). It also has wifi internet connection, a map application, email application, and up to 22 hours of battery life. It also has the ability to download audiobooks and podcasts. Overall it’s perfect for the travel enthusiast. I look forward to taking full advantage of my first purchase while enjoying my second which is…
I am planning a trip! Just recently I have connected with an old friend I haven’t seen in 11 years. While we were talking, we found out that we live 4 hours away from each other (under 2 hours flying). So while we were talking I got the idea that I could fly over some weekend and see her. After checking our schedules and checking airfares, I found out that on the weekend of July 4th I can get a plane ticket for $78, roundtrip, to go see her. Now I just have to work out all the details (like work, etc). If it all works out, I would leave Thursday and come home Sunday. This would be a time of shopping, spa treatment, baseball games, and just hanging out. I am looking forward to this and I hope everything works out.
Of course, my stimulus check is not THAT large and some of this money would come from my savings, but I am doing my best to stimulate the economy during this time.
So, what are you going to do with your economic stimulus check?
By the way, here’s a chart for when you should be receiving your check.