Financial Wisdom Concerning the Government Stimulus Check

Financial Wisdom Concerning the Government Stimulus Check

Repost from a Dave Ramsey financial group which is beneficial to people who aren’t thinking properly

GOVERNMENT STIMULUS CHECK INFORMATION

1. To Tenants: If the government says you don’t have to pay your rent and there’s a ban on evictions, you better do whatever you can to pay your rent. There will be major repercussions when eviction bans are lifted. Don’t think you’ll get a free ride out of this.
PAY YOUR RENT! Your landlord has bills to pay too.

2. To Homeowners: If the government tells banks to stop mortgage payments, DO WHATEVER YOU CAN TO PAY YOUR MORTGAGE! Some lenders are saying you don’t have to pay for three months, but on the fourth month, all four payments are due in full. Do not take a chance and not pay. Major foreclosures will come from all this. The banks didn’t help homeowners in 2008-2009 and in 2020. It’s still the same.
Pay your mortgage.

3. If the utility company suspends payments, you better pay any amount you can! They are like banks, they will want their money eventually and when all this clears up, you’ll owe an exuberant bill and still won’t have any utilities. Pay whatever you can.

4. If you get a government stimulus check, this check is to help pay your bills. That means you pay your rent, your mortgage, your utilities, your insurance, your car payment, your bills. This is not for frivolous spending.

5. The real problem is many who will get the stimulus check, won’t pay their bills then will be crying and wailing saying,
“They evicted me. They cut off my power, they repossessed my car…”
All while you’re broke and carrying that empty purse you bought with your stimulus check.

Right!! It’s not a free-for-all. People think wisely!👍

PAY YOUR BILLS!!!!
There’s always FREE cheese 🧀 in a mouse 🐁 trap!

Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.
Romans 13:8

25 thoughts on “Financial Wisdom Concerning the Government Stimulus Check

  1. I hardly ever agree with you, but on this I do. I’m currently on bedrest while pregnant, & I’m putting this money back to pay my health insurance I have through work so it doesn’t get behind. My husband can cover all the other bills, but I provide the health insurance for our family. I’ll probably use a little to buy my daughter some clothes for summer as she grows fast, but I’ll set a limit & stick to it.

  2. Good, solid advice! The problem with the stimulus check is that when you give $1200 to every person, you’ve really given nothing to anyone. I also imagine that a lot of people will be in for a nasty surprise around tax time next year…

    We’re boring. We’re doing nothing with our nearly $5000 except giving a little extra and letting the rest sit in our savings. Who knows how long this will go on. We may end up needing to supplement my husband’s income this summer of he runs out of work.

      1. What I mean is that we will all pay the government back for the stimulus money. Nothing in life is free. We will pay through higher taxes and a weaker US dollar.

  3. Yeah Ramsey has great advice. I’m just saving mine with the uncertainty. But yeah cover the 4 walls…food…rent/mortgage…..utilities….and transportation.

  4. Thanks Lori. Christians especially should be wise and live righteously. There can’t be enough teaching on these things.

  5. Government money printing will have significant costs in the long term. Add to that, the economic fall out from forcefully shutting down businesses which means things are about to get tough.

      1. I’m glad that you’re paying attention to what’s happening economically with this pandemic. We can enjoy the benefits of a slower pace and our children home AND be cognizant of the abysmal financial reality so many are facing in our nation.

  6. This will all be paid back. By us. In higher taxes, property taxes, sales taxes, grocery costs, etc.
    I have no illusions that this is free money. There’s no such thing.

  7. Dear Lori and Friends, to think…if the Lord Jesus was more welcome into people’s homes, there’d be alot less of the stupid johnses’-cha$Ing going on.

  8. Interest rates on home loans here are at an all time low. So my husband and I are doing what we can to get even more ahead on our mortgage than what we already are. 😃 All our bills are paid and food is stocked. Just need to replenish perishables once every 1-2 weeks.

    1. I am not sure I would pay more down on a mortgage right now, especially with interest rates low. Better to wait 6-12 months and just save it until you see where this economy goes… in a depression cash is King, and you can’t take cash back out easily from your home.

      1. Here in Australia, the type of mortgage we have we can. Its only a matter of walking into a bank and asking to withdraw money from the home loan. It’s not advisable. But we know it’s there in an emergency. 😉😊

      2. Excellent point, Ken. We are blessed that my husband has been able to continue his job. Our college accounts and retirement took a hit, as I’m sure many others have experienced. It’s tempting to build those accounts back up, but having funds saved and available seems more beneficial in the short term.

  9. I always find it comical that people have to be reminded to pay for bills and needs first instead of satisfying wants first. I find it so hard to understand why people CHOOSE to go buy their wants first when they know that they have rent, bills and other needs to pay for.

    1. It is funny how some people are regarding needs and wants. I have a picture in my office with THE perfect quote – “The difference between want and need is self control”.

  10. Hubby and I are saving our stimulus for a rainy day, not so much for us but for others who will feel the “pinch” in a few months after they blow through theirs. We’re donating generously during this crisis to our church, knowing some may not be able to. Our financial situation hasn’t changed (we are very fortunate) during this crisis and I want to help others. I’m getting some negative comments (from family) about helping others later this year due to them most likely spending frivolously but I feel the need to do so. Maybe they’ll be grateful, maybe they won’t.

    A friend of mine is using her families stimulus to pay their car insurance for the entire year instead of payment monthly – saving them about 2 whole months of payments! She’s going to keep deducting the usually amount from her checking account monthly and will use that monies NEXT year to do the same. I thought that was pretty smart.

  11. We are being very careful with money right now and saving from my husband’s salary, eating at home, and avoiding shopping except for absolute necessities. He surprised me today when he suggested I look online for a KitchenAid stand mixer (I have wanted one for years, but thought it was too expensive and so I used my old hand mixer (which I bought at a store closing for $15 22 years ago) and a bowl on the countertop. He told me he was really enjoying all of the home cooking (I had made cinnamon rolls from scratch yesterday and baked them this morning. They are all gone) and wanted to make it easier for me to keep making good meals. I did my homework, found a good price and a discount and am really looking forward to receiving our new mixer. My husband’s respect for my efforts as a homemaker is growing by the day now that he is working from home and realizing the time and energy I spend making our house a home.

    1. That’s wonderful, Kande! You’ll enjoy your new mixer. My parents bought us one years ago, and I enjoy using it for baking and mashed potatoes are a dream to make.
      In the past, I’ve been the recipient of an enameled cast iron dutch oven, food processor, and stainless steel mixing bowls by my husband, and I was thrilled! They were all surprise gifts, and when you cook most meals from home, nice appliances and cookware are thoughtful gifts. I remember the day William and Kate got married and my husband surprised me with a much needed new vacuum that coincidentally arrived that day, while we were watching the wedding on tv. I called it my royal wedding present, lol!

  12. Thank you SO MUCH for this. I am surrounded by people who are all excited about what they are going to do with their check — one of the parents at the school is giddy with excitement and I can feel all my hair turning grey just listening to her. And my husband is exactly like her — there are just some people in the world who see things like this and immediately want to “blow it”. It made me feel so physically ill I just had to leave the room whenever people start talking about all the stuff they’re going to buy, the vacation they are going to take, etc. SAVE IT IF YOU CAN! Pay the bills, pay down debt and then save, save, save!!!! When my son started working, I kept pounding that into his brain. Have something in your pocket for daily expenses that might come up (and trim those to the minimum, are you spending money wisely or not?), pay your bills (he has to pay for his own cell phone and he doesn’t have his license yet because he doesn’t want to pay the insurance, and I will not pay it for him) and then SAVE EVERY PENNY YOU CAN, while you can.

    You’ve got to save. It is so difficult to earn and so easy to waste. And the sobering fact that so many have lost their jobs should only drive this point home more. We happen to be among the fortunate, but not everyone is. SAVE YOUR MONEY.

  13. Totally agree. I read all of your posts. I remembered you shared a book ‘The Tightwad Gazette’ I wanted to read in and in full tightwad manner researched how to get it free. I found it online for free at archive.org All I had to do was sign up with my email! You may want to share this with your readers. 🙂 And thanks for the recommendation!

  14. What really scares me is the so called help to churches where its all well and good when a pro Christian is in charge, wait until another democrat or obama gets in charge they will attack like christian cake shops.

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