This Week: Economic Stimulus Payment Direct Deposit April 28-May 2
If you filed your 2007 income tax return and it was processed by April 15 and you elected direct deposit, expect to see a direct deposit this week. There has been new information released last Friday that people could expect to see this payment as early as Monday, April 28 and no later than Friday, May 2. Keep an eye on your bank account for that direct deposit.
I have a feeling that this stimulus payment could actually be helpful for our economy. Unless you live like a hermit, inflation has become a larger problem for most of us. Gas prices going up, food prices going up, and for those out there with fixed income it can be difficult to absorb the increased cost. Not that this stimulus payment will be spent on frivolous things, but what about the basics like gas and food?
We are planning to save part of the stimulus for our vacation this summer. The remainder will be rolled into our income and will help us make slightly larger payments in May. I think getting out of debt is the most efficient way to stimulate the economy and ease the stress of inflated costs. The fewer payments to debt I have to make, the more money I have in my pocket to handle higher costs of living. That is a winning game plan no matter what happens in the economy or the election.
Question to my readers:
Have you received your stimulus payment yet and what are you doing with it?
I have not received mone yet. As soon as I receive it, it goes to directly to debt payment.
I would have selected direct deposit, but I had to pay this year - so I’ll have to wait longer for the IRS to cut a check.
The sad thing is that my ’stimulus’ check is just barely above what I paid with my return.
So…what will I do with my $12? Though many might say I should put it in savings, I might buy myself something special instead.
I am getting it DD sometime soon I guess. $1200. What am I doing with it? It’ll go to pay bills. We’ve done about $5k in repairs on cars since March till $600 today on my car. So it will likely go to pay our bills.
Nothing fun. And it’s stimulating the economy, but I can’t exactly drive around in a car that isn’t working right? So it’s a need not a want and it would have been paid with or without the $1200.
Day 3 this week and still no stimulus payment. There are 2 days left though so it is bound to show up tomorrow or Friday.
I figure most people are going to roll the stimulus check into their bank account as savings or use it to handle the bills the extra money could go towards. One way or another we’re all going to spend this, it will take time to see if it actually helps the current economic situation.
Haven’t received it yet, but when I do, it will go into our “Hills and Valleys” account. My husband’s paycheck does not cover the basics, but between my part-time (and very irregular) pay and his side work, we are starting an account for the ups and downs of our income. The stim check will definitely help the budget we’re trying to start.
This is my first visit to your blog, and I’ll be back!
Day 5 and still no stimulus direct deposit. I guess something could happen next week. It would have made a good Friday if it was there when I checked this morning. At least it’s still Friday.