Wednesday, March 19, 2008

Our Kids & Grandkids to the Rescue!


I knew we had kids for a reason, other than a Biblical command to go forth and multiply.
Almost all of us are getting a fat “Stimulus Payment” for just being us. Are we that cute? The idea is that we will take this “windfall” money and buy something nice for ourselves;.. something costly, to help stimulate the economy.

However, according to a survey, less than 50% plan to surge the economy with buying something nice for themselves. They are finally learning that it is best to save for a rainy day or pay on a bill. It looks like the stimulus is not much of a stimuli when people start thinking about a wise way to use the money.

And we don’t have to pay it back!! Sure, it puts us deeper in debt but politicians are not about to raise taxes – that is one of the ways they got elected by balking taxes.

But they still owe the money they borrowed to pay the Stimulus Payments – Radio and TV consumer advocate Clark Howard said our children will have to pay for the stimuli.

I suppose the wise thing to do is put it into savings in your children’s name, sort of a trust, not to spent for anything but future taxes to pay for this fine mess we grownups got ourselves into.

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3 Comments:

Blogger kenju said...

That sounds like a good plan, edie. I will use mine to pay my gasoline bill.

8:27 PM  
Blogger MichaelBains said...

LOL, Kenju!

{sigh}

I'm using mine to pay down a currently no-interest credit card which I've, of course, maxed out, and for which the interest will become active on in May. Yikes!

6:25 AM  
Blogger ET said...

Judy,
Pay for gas? I paid $30 yesterday to fill my tank and it was only half empty.

Michael,
We have been lucky enough to pay off our credit card charges every month. We haven't maxed our cards in many years - those were the good old days!

6:40 AM  

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