Personal Finance | Our Economic Stimulus Check Arrived

Our Economic Stimulus Check Arrived

Posted on May 16, 2008 |

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Jump for joy

I checked our ING Direct savings account today and the government was true to it’s word - Our economic stimulus check came in! In total it was $1800. This is $600 each for my wife and I and $300 for each of our kids. Fortunately we had our tax refund direct deposited into ING so the stimulus check arrived the same way. We don’t even have to deposit it or transfer it to our savings. It’s earning interest as we speak!

So what are we using it for? If you remember my stimulus suggestions article I mentioned that we probably won’t do anything in particular with it. It’s already in savings earnings interest so that’s good. We have expenses coming up but I can’t say we are specifically using the money to cover them. The economic stimulus check will sit in our savings an if we need the money we’ll use it. We aren’t going out of our way to try to spend it.

Why can we do this? It’s because we’ve already built up a nice savings cushion and with the exception of student loans we have no debt. Getting rid of our credit card debt and living a modest lifestyle is allowing us to bank the stimulus check with no worries.

Have you gotten your economic stimulus check yet?

Here are the mail/deposit dates from the IRS site:

Direct Deposit Payments
If the last two digits of your Social Security number are: Your economic stimulus payment deposit 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
Keep in mind these schedules are based on tax returns that have been processed by April 15th. If you filed close to April 15th you will probably receive your stimulus check later.
Do you have a creative use for your check? Let’s hear it!
Sign up with ING Direct and get a $25 bonus. See here for details.
photo by tinou bau
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Filed Under Economy, Frugal, Money, Personal finance, bank, debt

Comments

6 Responses to “Our Economic Stimulus Check Arrived”

  1. Joe @ simpledebtfreefinance (3 comments) on May 16th, 2008 3:41 pm

    Unfortunately, I wasn’t able to do what I intended with my check (read here for the full details: http://simpledebtfreefinance.com/my-economic-stimulus-check/ ) but at least it did blunt the unexpected expense and allow us to stay on course with our savings goal. It’s a bit of a bitter-sweet feeling really….

  2. Pete @ biblemoneymatters.com (6 comments) on May 19th, 2008 10:40 am

    Congrats on getting your money. that’s a nice feeling isn’t it?

  3. ffb (219 comments) on May 27th, 2008 4:20 pm

    @ Joe - Sorry to hear about the car. At least you’re not going into savings to fix it.

    @ Pete - It is a nice feeling to see money magically appear in your savings account.

Trackbacks

  1. Prime Time Money: Regular Ole Roundup | Prime Time Money
  2. Money Hacks Carnival #13 — Money Saving Hacks Edition | Moolanomy
  3. Economic Stimulus Payment Direct Deposit: Where is it? | Prime Time Money

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