Wednesday, April 30, 2008

Five Ways to Spend Your Economic Stimulus Check

1. File Bankruptcy and Help The Economy

Since the purpose of the economic stimulus plan was to help Americans who were overburdened by high interest rates, credit card balances and sub-prime mortgages pay their bills, why not make this your last credit card payment. If you filed bankruptcy yourself, you could do it for less than $600. If you are married, you could hire an attorney to do it for you with your $1200 payment.

2. Buy a Wii Fit

According to their Website : “The active-play phenomenon started by Wii Sports now spreads to your whole body thanks to the pressure-sensitive Wii Balance Board (name not final), which comes packed with Wii Fit. The board is used for an extensive array of fun and dynamic activities, including aerobics, yoga, muscle stretches and games. Many of these activities focus towards providing a “core” workout, a popular exercise method that emphasizes slower, controlled motions. Family members will have fun staying active and talking about and comparing their results and progress on a new channel on the Wii Menu.”


3. Let The Government Buy Your Next Gun and Ammo

Citizens Committee For The Right to Keep and Bear Arms (CCRKBA) Chairman Alan Gottlieb thinks it would be a boon to America's firearms industry for that money to be spent on pursuits guaranteed by the Second Amendment, while also providing jobs and paychecks, and creating new jobs for people in the industry. "This is our money, anyway," Gottlieb said ofthe stimulus checks. "If we weren't paying it in taxes to begin with, it would still be in our bank accounts and wallets, and we would already be spending that cash on a new rifle or shotgun, perhaps a new handgun and ammunition, shooting accessories and other equipment. "Set some cash aside to buy gasoline for a trip to the range," he added, "and don't forget that with every firearm and ammunition purchase, Americans contribute to the Pittman-Robertson federal excise tax program that supportsstate wildlife agency programs, including hunter education. Not only will these purchases provide a much-needed boost to the gun industry, they allow gun owners an opportunity to take more than just a symbolic swipe at anti-gunners and anti-hunting groups."


4. Buy Fine Wine and Spirits

You can get a bottle of 1908 Bual Madeira for $534.00. Everyone should try a 100 year old wine at least once in their life. Or you could buy a 40 year old bottle of Old Fettercairn single malt scotch for around $700.


5. Go to The Ball-Park or Playoffs

Even though it is the regular season, you can easily spend $600 on baseball tickets. At Yankee Stadium, $600 buys one seat behind home plate. In Colorado, you could get a 25 game package for $625. If baseball is not your game check out the NHL or NBA Playoffs. According to Stubhub.com, two nosebleed seats for the Lakers' next series cost about $600. The NHL is a better value, you can get 3 seats to the Red Wings' next series for $575.00.

The Economic Stimulus Check – When Will You Receive It?

According to Marketwatch.com, the economic stimulus checks, for tax returns filed by April 15, will be mailed according to the last two digits of your social security number. Here is the schedule:

Direct deposit payments
If the last two digits of your Social Security number are: Your stimulus payment should be sent to your bank account by:
00 - 20 May 2
21 - 75 May 9
76 - 99 May 16
Paper check
If the last two digits of your Social Security number are: Your check should be in the mail by:
00 - 09 May 16
10 - 18 May 23
19 - 25 May 30
26 - 38 June 6
39 - 51 June 13
52 - 63 June 20
64 - 75 June 27
76 - 87 July 4
88 - 99 July 11

Forbes.com: Personal Finance News