How I spent my stimulus
By Liz Barry on May. 22, 2008
What would you do with $600?
Would you save it? Put it toward gas money? Or buy a 3-foot-tall lamp shaped like an ice cream cone?
It’s a question on the minds of millions of Americans as they await their stimulus checks from the U.S. Treasury Department.
In February, President Bush signed into law a $152 billion economic stimulus program intended to boost the flailing economy, and stave off a major recession. By July, more than 130 million taxpayers will receive checks ranging from $300 to $1,200 based on their 2007 tax returns.
This month, the checks began to arrive.
To shed light on how Americans are spending their money, Rudy Adler, a 26-year-old from Brooklyn, started the Web site howispentmystimulus.com. The stories flooded in from coast to coast, from Alaska to Texas. Among the wackier purchases: a ferret, a John Deere lawn tractor and a Terminator 2 arcade machine, not to mention the 3-foot ice cream cone lamp.
Inspired by the Web site, we ventured to Lynchburg’s shopping hotspots to find out how the locals are spending their rebates. From paying off debt to blowing it on impulse purchases, Lynchburgers are spending (or saving) in style. But since the last payments won’t go out until July, many are still deciding what to do with the dough.
Here’s a sampling from the more than 20 people interviewed.
Fun in Hawaii
Name: Afton Fisher
Age: 25
Location: Lynchburg
Occupation: Underwriter at Nationwide Insurance
How I spent my stimulus: Excursions for a family trip to Hawaii: surfing, snorkeling, volcano tour
“It’s a once-in-a-lifetime vacation for us, and we can really enjoy it now.”
Home Appliances
Name: Kristopher and Anne Shaffer
Age: 25, 22
Location: Amherst
Occupation: Behavior specialist for DePaul Family Services (Kristopher), music teacher (Anne)
How I Spent my Stimulus: Stainless steel GE appliances for the new house: oven, over-the-range microwave and a range.
Kristopher: “It’s money we didn’t have to begin with, so it’s money we used for things we didn’t need to begin with. This allows us to put more into the house, quality-wise.
Anne: “Otherwise we’d get only the bare bones stuff.”
Bunk beds and summer clothes
Name: Samara Monroe
Age: 30
Location: Lynchburg
Occupation: Works at FootAction and part-time at Sunglasses Hut
How I spent my Stimulus: Pay off payments on bunk beds and summer clothing for her kids
“Because the way gas prices are these days, if I can eliminate a monthly expense, it gives me more money for gas and food. ... I feel relieved. I feel like it takes some of the pressure off me. It’s like money in the bank.”
Car payment
Name: Billy Wood
Age: 20
Location: Nelson County
Occupation: Mechanic in Charlottesville
How I spent my stimulus: Two months of car payments for his 2003 Dodge Ram truck
“That’s my biggest expense. ... You know when you’re young, you don’t have a lot of money so it’s nice to get a little extra.”
Sky Diving
Name: Joey Langlois
Age: 27
Location: Lynchburg
Occupation: Massage therapist
How I spent my stimulus: Sky diving in Orange County ($260), video of jump ($100), next sky dive ($215) charge on credit card
“I just figured I’d go and pay it off with my stimulus. ... It (skydiving) was the best thing you can do with your clothes on.”
Moving to Baltimore
Name: Shanna Culpepper
Age: 34
Location: Lynchburg
Occupation: Works at Hardees and a sitter for elderly patients
How I spent my stimulus: Moving back to Baltimore after son graduates from Altavista High School this spring
“I just want to go back to Baltimore. Jobs down here are scarce and pay is low. ... Younger people, who get stimulus checks, are all about clothes and cell phones. They don’t know the power of money. It’s going to help me and my kids. It’s going to help us move.”
Mortgage Payment
Name: Michael Rose
Age: 22
Location: Lynchburg
How I spent my stimulus: Mortgage payment for townhouse in Wexford
“I almost bought a TV with it, but figured a house payment was more important.”
Utilities
Name: Pam Ross
Age: 32
Location: Bedford County
Occupation: Short order cook, student
How I spent my stimulus: Filled oil tank for next winter
“There was no sense in me waiting for November. I’d rather have it all in there and be sure that there’s heat next winter. ... It was nice (to get the stimulus), but I don’t think it’s an answer to all the nation’s woes. Nine out of 10 people I talk to aren’t using it for consumer products. It’s going toward bills and utilities.”
PlayStation 3
Name: Joe Hubbard
Age: 24
Location: Lynchburg
Occupation: Chef at Vines Wine Merchant and Cafe
How I spent my stimulus: PlayStation 3 and video game (Grand Theft Auto)
“It’s like a catch-22. It’s not everyday that somebody gives you $600, and I’m always paying bills so I figured ‘what the hell.’ But I’m skeptical of what they (the government) are trying to pull here. ... and I did exactly what they wanted me to do.”
Apartment payment
Name: Ryan Brown
Age: 18
Location: Lynchburg
Occupation: Full-time student at Virginia Commonwealth University
How I spent my stimulus: Help pay for apartment in fall
“I wanted to spend it on something like an iPod or money to go out with friends - I’m a college student, you know. But I thought I had to be more responsible and help out my parents with the apartment. I come from a big family, so they have other people to worry about besides me.”
Savings
Name: Jesse Darling
Age: 33
Location: Monroe
Occupation: Truck driver for Englander Transport
How I spent my stimulus: Savings
“I told myself when I got it, it was going to sit in the bank. If I need it for bills, I’ll use it for bills. . . . The government is going to find some way of getting it back. They always do.”
Laser Printer
Name: Christopher Wolff
Age: 31
Location: Lynchburg
Occupation: Vendor for Keebler
How I spent my stimulus: Hewlett Packard laser printer on clearance from Best Buy ($225)
“If I have extra money and I could pay a bill or buy something, I’d buy something. I’m just a wasteful person; that’s all there is to it.”
Credit Card Debt
Name: Mike Markland
Age: 31
Occupation: Network engineer at Babcock and Wilcox
Location: Lynchburg
How I spent my stimulus: Pay off credit card debt
“I already have a lot of TVs, that’s why I have so much debt. ... I’m already pretty angry about how much I pay in taxes. This is not going to stimulate the economy, in my opinion. . . . Maybe the government could help with gas prices a little more; that would make me happy.”
When will I get my rebate?
The IRS is sending out the stimulus checks based on Social Security numbers. If your tax return was processed by April 15, here’s when you can expect it. (The numbers in the first column are the last two digits of your Social Security number.)
Direct deposit
00 through 20: May 2
21 through 75: May 9
76 through 99: May 16
Paper check
00 through 09: May 16
10 through 18: May 23
19 through 25: May 30
26 through 38: June 6
39 through 51: June 13
52 through 63: June 20
64 through 75: June 27
76 through 87: July 4
88 through 99: July 11
Source: The Internal Revenue Service, http://www.irs.gov/irs/article/0,,id=177937,00.html
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