Second Stimulus check - What are you going to do with it?

[shoreno]

list are mostly gadgets and personal gratification . you forgot to add gambling  . gambling is mostly people will spend thier stimulus  . i dont have mine and i dont know how to avail of those  . maybe because im just new here on the place where i currently reside but i saw my neighbors got rice and some groceries instead of cash.  thats way more better if i were to ask because we saw above on where would people spend their stimulus, they only spend it on useless things

[MCobian]

The United States government provides stimulus checks to be used to help buy daily necessities so as not to starve those who are not working.
If there is still left over, it must be used for important things, namely paying various bills. But if you don't have a bill, it's certainly better used
for investment so that the money does not run out quickly and can generate profits. The best investment choice is to buy cryptocurrency.

[exstasie]

The stimulus check is supposed to be an aid for the lower/middle class that got financial difficulties. By logic it should be used to buy food, pay the bills, the rent, etc. I don't consider it normal if people use it to pay for holidays or something mentioned in OP like video cards, cryptos,...

In this case, it means they don't really need help finally.
~snip

This.

Stimulus checks are supposed to be used to pay expenses for the many people who became unemployed and have no salary to fall back on to pay their living expenses.

Unemployment benefits are for the unemployed.

The main purpose of direct stimulus payments is getting people to spend money, to "stimulate" the economy, with the goal of preventing deflation. The social safety net aspect is secondary, if that, especially when you consider these payments are tiny when compared to the cost of living in the US.

Someone making $70K a year gets the same $1,200 payment as someone who is homeless. Obviously some people need the money more than others.

[stompix]

I think we had this discussion once and only two guys from the WOT spent their check on coins if we go through all the forum the percentage might drop a lot, and if here people aren't that keen on doing so I doubt the overall numbers are something to even bother considering as a market mover.

Fortunately for me, my work was not affected, I didn't get any pay cut yet so I will not benefit for the compensation plan in my country but hypothetically I doubt I would have spent it on anything other than necessities if the amount was mandatory to be spent like food vouchers in the welfare program we have here, and if not probably I would have just sent the amount to my bank account. If you're in a though situation probably the last thing you want to do with that money is take a gamble, especially if there is an uncertainty in the economy and that might be your last check for awhile.

Stimulus checks are supposed to be used to pay expenses for the many people who became unemployed and have no salary to fall back on to pay their living expenses.

A lot of things are supposed to do something but humans always find a way to reach some astonishing results.
Feds charge Florida man with fraud for buying Lamborghini with COVID relief funds

[bearexin]

I would assume that if you are getting stimulus check and you do not need money as of right now (as in paid all your debts and bills and so forth) do not look at bitcoin right away. It is at a high right now and buying at high is not a good decision.

I would say look at something else for now, people are overreacting what happened to bitcoin and how it is up 67% since the last stimulus check but if you bought Tesla stock at the right price and sold at the right price you could have made about 5x return from it and that is not a stock that is a little known thing, it is one of the best known stocks in the market right now. So, just make sure that you have enough money first and when you are sure that all your debt is paid, just check what is down before you invest into anything.

[taufik123]

The stimulus given by the government is certainly our own responsibility and we are free to use it for what.
Some of the things mentioned by the OP like buying crypto might be possible, but not for now because the price of bitcoin is still quite high.
halving stimulus funds will certainly be better. used as an investment and some others are used to pay bills and to survive.

Investing in crypto or other sectors gives little hope to be able to get more benefits from some stimulus funds.

Financial Management must be really done well so that all needs are fulfilled and can get some benefits.

[harizen]

Some of the things mentioned by the OP like buying crypto might be possible, but not for now because the price of bitcoin is still quite high.

Depend on how much the money, there's no need to buy BTC as a whole.

Yes, I know there are anticipations that there might be a pullback but in terms of putting money on crypto, it's way better to pull that trigger right away if the purpose is continuous accumulation providing the current price behavior doesn't seem to show sign of any big pullbacks***.

But take note that there's no need to push or force for it if there's a difficulty handling the financial management. Focus instead on the investment wherein good results can be seen in the short-term.

[Harlot]

If I'll be receiving a stimulus, I'm not from the US. The things that I'll buy will be divided into many things. I won't be buying a new computer but I'll be upgrading so that's the first one.
The next will be investing in bitcoin and a lower portion for the stocks if it's essential. And the remaining balance, I'll save it for an emergency fund so that if I don't have a budget anymore it will be for essentials.

You should also put your shoes in the situation of the Americans who will be receiving these stimulus checks. Right now they will be receiving another one because a lot of them lost their jobs as well as the price of basic needs have risen that's why they will be receiving a financial aid from the US government. If you put yourself in their position you won't really have any room for upgrades in your pc or think about investment. Because if you want to survive in these pandemic without any money you'll also be starting think about liquidating all your assets.

[Wexnident]

I doubt most of those that can get stimulus checks are those that are able to invest tbh. Personal supplies and the like are much better alternatives right now. Yes, pretty much investing in stocks, upgrading your personal equipment, etc., are good ideas for the long term. Sadly, most are already having a hard time for the present, so I doubt they'd actually have the leisure to even think about what their expenses could do for their long term whether it be for personal enjoyment or for just the reason of wanting to live.

list are mostly gadgets and personal gratification . you forgot to add gambling  . gambling is mostly people will spend thier stimulus  . i dont have mine and i dont know how to avail of those  . maybe because im just new here on the place where i currently reside but i saw my neighbors got rice and some groceries instead of cash.  thats way more better if i were to ask because we saw above on where would people spend their stimulus, they only spend it on useless things

Giving out money and giving out supplies, which seems better when looking from the sides? I for sure think giving out money is better, in terms of you being given the attention that is. They're mostly doing it so that they can show the world they are doing something, even though it isn't the best choice, it is a choice that can appeal better though.

[batang_bitcoin]

If I'll be receiving a stimulus, I'm not from the US. The things that I'll buy will be divided into many things. I won't be buying a new computer but I'll be upgrading so that's the first one.
The next will be investing in bitcoin and a lower portion for the stocks if it's essential. And the remaining balance, I'll save it for an emergency fund so that if I don't have a budget anymore it will be for essentials.

You should also put your shoes in the situation of the Americans who will be receiving these stimulus checks. Right now they will be receiving another one because a lot of them lost their jobs as well as the price of basic needs have risen that's why they will be receiving a financial aid from the US government. If you put yourself in their position you won't really have any room for upgrades in your pc or think about investment. Because if you want to survive in these pandemic without any money you'll also be starting think about liquidating all your assets.

I don't have to, it's just a situation if ever I'll be in their place so that's what I'll do and I think which is enough for me to spend the amount that will be distributed through the stimulus.
But if I'll be in their situation, I'm not upgrading my PC just for nothing. It's another investment that I can also use to produce income through working at home so that should be a good place to put that stimulus because it will generate income.

[Ayiranorea]

In most cases people will settle all the debt that's been got during the time of pandemic. With the rest they can have a living for some time period. Right now very few will think about investment, because it is time to survive than making money. The way funds were provided to the citizens is really good and why don't other countries too do the same.

[danherbias07]

Bills, bills, bills.

Got to clean that all up before buying something again.
It's like a loan, you don't want to get buried with it. 
If given a chance though, I just buy it with ETH. Looking at how fast it change in its price, it may be a good way to make money out of trading.

[Reatim]

In most cases people will settle all the debt that's been got during the time of pandemic.

This is very important in order to build back their credits, people will think of settling it after receiving their stimulus check.
[/quote]

With the rest they can have a living for some time period. Right now very few will think about investment, because it is time to survive than making money.

It's important to survive as this virus still spreading and lots of jobs are being closed, few will be interested of vnturing their money
as they are saving it in case of any emergencies.

The way funds were provided to the citizens is really good and why don't other countries too do the same.

Maybe some countries also have but not totally exact with how US government deal with it.

[Sanugarid]

The stimulus given by the government is certainly our own responsibility and we are free to use it for what.
Some of the things mentioned by the OP like buying crypto might be possible, but not for now because the price of bitcoin is still quite high.
halving stimulus funds will certainly be better. used as an investment and some others are used to pay bills and to survive.

You got the full responsibility to your money once the government have given them to you, they won't interfere with whatever you do to the money unless you get involve in illegal activities like illegal drugs or something. Buying crypto with stimulus checks is possible, in fact the first time that the stimulus checks have been given, there are deposits in coinbase in exactly $1200 buying crypto not only bitcoins, we can't assume that these are the real stimulus check that they got or just the whales trying to play around. If I were given the stimulus I'd probably split it in investment ( for the future ) and necessaries ( present ) so I'll still be able to have a funds, and to be honest I'm not getting it completely with crypto.

Investing in crypto or other sectors gives little hope to be able to get more benefits from some stimulus funds.

crypto is really risky, and if they do that they are risking more than the others.

Financial Management must be really done well so that all needs are fulfilled and can get some benefits.

Proper management of money will give them a longer time to survive until the next cash aid arrives. (possibly)

[bitgolden]

Honestly there are so many companies who are getting tens of millions of dollars in help that people talking and focusing on the mere 1.200 others are getting is silly and makes no sense at all. I get that if you want to defend any politician or any ideology you can, but the total amount spent to help people out is around 400 billion dollars so far, and to help the companies there has been about 3 trillion dollars, so as you can see companies are getting 6 times more.

Companies may "need" more because companies have bigger expenses than the people but this is stimulus check, not loan to help you out or anything. If USA didn't helped companies this much and just gave half of that to people we would not have companies in trouble since people would buy stuff from those companies.

[iv4n]

A lot of things are supposed to do something but humans always find a way to reach some astonishing results.
Feds charge Florida man with fraud for buying Lamborghini with COVID relief funds

"Federal prosecutors said in a statement "that within days of receiving the PPP funds, Hines purchased a 2020 Lamborghini Huracan sports car for approximately $318,000, which he registered jointly in his name and the name of one of his companies.""

He didn't think too long about buying lamborghini, probably he had a plan from the beginning! I agree with you, people never stop surprising me with their actions, it's just crazy what some people are ready to do! Did he really thought that he can get away with this?

I got 100 euros from my government. I bought some meat and drinks, and invited friends! That was a nice day! You can't do many things with 100 euros, so I decided to spend them on fun. There will be no second check in my country, but if it happens (chances for that are very low) I will probably do the same thing!

[bits4books]

Too subtle a question. It depends on the recipient of the payment - how well they are doing at the moment. Someone can really spend these payments on a PC or on a new xbox / ps and someone will just buy products for another month and be happy about it because yesterday he eat last piece of bread. I am not from the United States but if I were, I would divide these funds into a couple of parts and put something aside for the future and spend something on current needs if there are any.

[verita1]

I don't live in the US. But in my country we also receive a little help and what little we receive we spend on food.

Do a search and I found a census conducted of Americans and published on June 24, 2020.

In order what the majority of respondents answered.
Food
Rent payment
Payment of basic services (gas, electricity, cable, internet and cellphone).
Personal care and clothing.
Purchase of TVs, and other electronics

How Are Americans Using Their Stimulus Payments?

[el kaka22]

The sad thing about this is the fact that if you get 600 dollars a month you are getting 2.4k dollars a month and that means 28.8k per year, that is over the amount some people make with their work, can you even imagine that? We are talking about government hand out being so low and so bad that it is just to help you survive and you do nothing to get it, you are just a citizen, whereas some bosses around the country pay you even less than that!

Look at amazon, some workers are making basically less than that or work more to get more but around the same level and these people are working non-stop constantly moving and doing work for over 8 hours a day, its not a office sitting down job, it is 8+ hours per day constantly working, hell they pee on bottles to not miss out profits!! And their boss? Jeff Bezos nearly worths 200 billion dollars. The problem is not the stimulus check, the problem is the wealthy ones.

[abhiseshakana]

The sad thing about this is the fact that if you get 600 dollars a month you are getting 2.4k dollars a month and that means 28.8k per year, that is over the amount some people make with their work, can you even imagine that? We are talking about government hand out being so low and so bad that it is just to help you survive and you do nothing to get it, you are just a citizen, whereas some bosses around the country pay you even less than that!

Look at amazon, some workers are making basically less than that or work more to get more but around the same level and these people are working non-stop constantly moving and doing work for over 8 hours a day, its not a office sitting down job, it is 8+ hours per day constantly working, hell they pee on bottles to not miss out profits!! And their boss? Jeff Bezos nearly worths 200 billion dollars. The problem is not the stimulus check, the problem is the wealthy ones.

Sometimes people only see success without ever wanting to see the process of achieving success. The boss is the one who owns and creates the system. Job seekers are people who hope to enter into a meaningful system that consciously, whether forced or not, we accept all the rules of the system. We will not be able to argue anything, because in fact, it started as an office in an Amazon garage which is now the leading company in the world. His boss succeeded in building and making Amazon an economic giant. As a matter of fact, we have not been able to equal or even surpass their achievements, so that our arguments will be very easily debunked.