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Started By
Message
How are people spending their stimulus checks?
Posted on 6/1/20 at 6:43 pm
Posted on 6/1/20 at 6:43 pm
Two groups, those households/individuals make more or less than 75K.
Group 1 spent the money on debt, insurance, travel, home improvement, and electronics.
Group 2 spent the money on education, home improvement, opening stock and trading accounts, and utilities.
Group 1 was the higher income group
Group 1 spent the money on debt, insurance, travel, home improvement, and electronics.
Group 2 spent the money on education, home improvement, opening stock and trading accounts, and utilities.
Group 1 was the higher income group
12
Posted on 6/1/20 at 6:49 pm to TigerintheNO
It's not that surprising.
The higher income group already has investment accounts and is less likely to need the money so they can use it for travel or a new TV.
Group 2 - if they didn't lose their jobs they have free money + opportunity to buy low.
The higher income group already has investment accounts and is less likely to need the money so they can use it for travel or a new TV.
Group 2 - if they didn't lose their jobs they have free money + opportunity to buy low.
Posted on 6/1/20 at 6:50 pm to TigerintheNO
I spent mine to pay down see debt, bought stocks, and donated it
Posted on 6/1/20 at 6:57 pm to TigerintheNO
Idk. It went in my bank account and I spent like usual. Mortgage? Gas? Good?
Posted on 6/1/20 at 7:00 pm to TigerintheNO
I never got mine
Posted on 6/1/20 at 7:08 pm to Bestbank Tiger
quote:
It's not that surprising.
The higher income group already has investment accounts and is less likely to need the money so they can use it for travel or a new TV.
what was the cap on income to receive the check?
Posted on 6/1/20 at 7:45 pm to TigerintheNO
It appears most people bought bricks and Molotov cocktails
Posted on 6/1/20 at 7:46 pm to Bestbank Tiger
quote:
The higher income group already has investment accounts and is less likely to need the money so they can use it for travel or a new TV.
Except there was a huge discount on stocks so using this money to purchase more was the prudent thing to do
Posted on 6/1/20 at 9:28 pm to TigerintheNO
I invested and bought my wife an iphone.
Posted on 6/1/20 at 11:13 pm to TigerintheNO
invested half and other half is just sitting in the bank
Posted on 6/2/20 at 12:47 am to TigerintheNO
Invested all of it.
Posted on 6/2/20 at 3:48 pm to TigerintheNO
Higher income earners didn’t need to money to keep the lights on. I’m shocked 
Posted on 6/2/20 at 3:51 pm to TigerintheNO
quote:
spent the money on debt
Paid off a car that had just a few payments left.
quote:
opening stock and trading accounts
Then did this. Probably should have just done this in hindsight.
Posted on 6/2/20 at 3:56 pm to TigerintheNO
Paid off a credit card.
Posted on 6/2/20 at 4:23 pm to TigerintheNO
Didn't qualify 
Sure would've been nice to collect with everyone else though...
that's the part that sucked is everyone else is standing under the money tree and I wasn't allowed to
Sure would've been nice to collect with everyone else though...
that's the part that sucked is everyone else is standing under the money tree and I wasn't allowed to
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