Economic Stimulus Project
April 30th, 2008
Today Real Life Community Church started it’s Economic Stimulus Project. You can find out more here. The idea is that with these economic stimulus checks we’re getting from the United States Government we should do something greater than spend it on stuff that will just break in a month.
We live in such a consumeristic society and I understand that consumerism is what drives capitalism but I think we’ve gone to an extreme and put ourselves in a tight spot. Americans have a problem with spending money they don’t have, myself included, we rack up massive credit card debt and end up paying for items that are long since busted for 20 years. This doesn’t make sense.
Why not take this money from the government and put it toward a credit card and get out of debt or on your way if you have a lot of debt. There is freedom in being debt free and it is worth so much more than the new BlueRay Player. I’m sure there are several of you that are not in debt at all and good for you. That is awesome, if you’re not in debt then you don’t need the extra money… so why not it give it to an organization that is helping relieve global poverty. We are so spoiled in this country and this money can be given to a lesser developed nation to help them get a stronger economy.
What are you going to do with your Check? Let me know in the comments.
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4 Comments
Add your own1. ryan | May 1st, 2008 at 7:08 am
The last time the government gave out this check, the government preceeded to take it out of the upcoming years taxes. My parents had to pay that year when normally they didn’t have to pay in past years. I am taking the money, putting it in a CD and waiting. If I have to pay taxes this upcoming year, I’ll have the money plus interest. If I don’t need to pay, the money (plus interest) will go towards student loans.
2. Clayton Borah | May 1st, 2008 at 8:00 am
That’s a great idea Ryan. Thanks for sharing. Last night I was watching some news show on PBS and they were talking about these Economic Stimulus Checks and these financial experts they had on were telling people to pay off debt with these checks and not spend it on stuff. It was really interesting to hear from the media.
3. Elaine | May 1st, 2008 at 9:45 am
We’re planning on putting it towards student loans as well. I thought I had heard that it wouldn’t be taxed as income next year, but as it is the government, who knows. Good idea, Ryan.
4. Mike | May 2nd, 2008 at 3:18 pm
According to the newspaper, this rebate check doesn’t count towards next years taxes….just checked the FAQ on the IRS website, and they said you will not have to pay taxes on it…
http://www.irs.gov/newsroom/article/0,,id=182003,00.html
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