Comments on: 8 Ways to Create Your Own Stimulus Check http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Night Runner http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-189418 Night Runner Sun, 01 Mar 2009 16:59:52 +0000 http://www.consumerismcommentary.com/?p=5418#comment-189418 Thanks for the number 8! I completely forgot about the "rewards" part of my rewards card. :) $172.50 is now on its way... Thanks for the number 8! I completely forgot about the “rewards” part of my rewards card. :) $172.50 is now on its way…

]]> By: Yana http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188758 Yana Thu, 26 Feb 2009 22:35:15 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188758 I like this article, especially the first idea. I do think that not sending checks will be more stimulating to the economy. The problem is that, for instance, just yesterday I got a notice from the cable company that basic non-digital cable is going up $2. The local channels are going up $1.74. Taxes will be added on to these charges, and I imagine that our bill will be $57. We are not going to cut out cable, as it is the only way we can have TV reception. The point is that I believe many prices will rise, far beyond this little tax break. I can adjust withholding on one of my own sources of income, online at any time, but it is something of a pain to do that with my husband's income/employer. I like to owe, though not much, and don't want to overpay taxes. I like this article, especially the first idea. I do think that not sending checks will be more stimulating to the economy. The problem is that, for instance, just yesterday I got a notice from the cable company that basic non-digital cable is going up $2. The local channels are going up $1.74. Taxes will be added on to these charges, and I imagine that our bill will be $57. We are not going to cut out cable, as it is the only way we can have TV reception. The point is that I believe many prices will rise, far beyond this little tax break.

I can adjust withholding on one of my own sources of income, online at any time, but it is something of a pain to do that with my husband’s income/employer. I like to owe, though not much, and don’t want to overpay taxes.

]]> By: Dan http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188757 Dan Thu, 26 Feb 2009 22:04:26 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188757 Regarding #8, you really only claim your cashback rewards once a year? Maybe I'm a geek. But I have four different cashback cards, three from Chase and one from Discover. I have them all added in Yodlee Moneycenter, and Yodlee sends me a notification when the Chase rewards reach 5000 points ($50 cashback) or when the Discover cashback reaches $20. I usually redeem my cashback almost as soon as its available. Again, maybe I'm just a geek... Regarding #8, you really only claim your cashback rewards once a year?

Maybe I’m a geek. But I have four different cashback cards, three from Chase and one from Discover. I have them all added in Yodlee Moneycenter, and Yodlee sends me a notification when the Chase rewards reach 5000 points ($50 cashback) or when the Discover cashback reaches $20. I usually redeem my cashback almost as soon as its available.

Again, maybe I’m just a geek…

]]> By: Bocachica http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188755 Bocachica Thu, 26 Feb 2009 20:39:05 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188755 #7 is the most appealing to me. Saving? Sure, if possible. Economizing is just as important, imho. I think each of us has the responsibility to get the most for our money. It may not immediately “help” the economy but rampant consumerism is one of the things that got us all into this mess in the first place. For example, my daughter HAS to have a phone, No negotiation there, and I got tired of fighting with her over the high bills. But I discovered that you can get out of your expensive cellphone contract if the company changes its terms. When Sprint changed its charges for texting, I called them and was able to cancel the contract! They won’t tell you, of course. You have to ask! I turned around and got a pay in advance phone from Net10 and only pay what I can afford up-front and it’s now a part of my daughter’s “allowance” which has turned out to be a very good way to get her into the habit of budgeting. It may not be a “necessity” to everyone but any way to reduce costs is good to me!ay not be a “necessity” to everyone but any way to reduce costs is good to me! #7 is the most appealing to me.

Saving? Sure, if possible. Economizing is just as important, imho. I think each of us has the responsibility to get the most for our money. It may not immediately “help” the economy but rampant consumerism is one of the things that got us all into this mess in the first place.

For example, my daughter HAS to have a phone, No negotiation there, and I got tired of fighting with her over the high bills. But I discovered that you can get out of your expensive cellphone contract if the company changes its terms. When Sprint changed its charges for texting, I called them and was able to cancel the contract!

They won’t tell you, of course. You have to ask!

I turned around and got a pay in advance phone from Net10 and only pay what I can afford up-front and it’s now a part of my daughter’s “allowance” which has turned out to be a very good way to get her into the habit of budgeting. It may not be a “necessity” to everyone but any way to reduce costs is good to me!ay not be a “necessity” to everyone but any way to reduce costs is good to me!

]]> By: Smithee http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188744 Smithee Thu, 26 Feb 2009 16:31:49 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188744 It kills me that both my wife and I can put "0" on our W-4s and still owe money the next year. If I wasn't putting $1,100 every month toward my credit card debt, I suspect it wouldn't bother me so much. It kills me that both my wife and I can put “0″ on our W-4s and still owe money the next year. If I wasn’t putting $1,100 every month toward my credit card debt, I suspect it wouldn’t bother me so much.

]]> By: Flexo http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188743 Flexo Thu, 26 Feb 2009 14:51:52 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188743 Tom: That is exactly what will happen. You will then find that when you file your 2009 income taxes next year, you will have *over-withheld* and you may owe money back to the government. Your employer doesn't know that your wife is also earning an income, so they will adjust your withholding based on your W-4 status. Your wife's employer will do the same. The way to fix that is for one of you to adjust your withholding on your W-4 to offset the new credit. Tom: That is exactly what will happen. You will then find that when you file your 2009 income taxes next year, you will have *over-withheld* and you may owe money back to the government. Your employer doesn’t know that your wife is also earning an income, so they will adjust your withholding based on your W-4 status. Your wife’s employer will do the same.

The way to fix that is for one of you to adjust your withholding on your W-4 to offset the new credit.

]]> By: tom http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188742 tom Thu, 26 Feb 2009 14:28:54 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188742 One thing I can't figure out is how the $400-$800 tax credit will be monitored for households with two jobs. My W-4 is selected as married so I'll be getting back $39 each paycheck, I assume. My wife is a student and works part-time, but also has her W-4 labeled as married, so will she be getting back $39 also? That would give us $1600 back. I can't find too much info online on how this will all work... One thing I can’t figure out is how the $400-$800 tax credit will be monitored for households with two jobs. My W-4 is selected as married so I’ll be getting back $39 each paycheck, I assume. My wife is a student and works part-time, but also has her W-4 labeled as married, so will she be getting back $39 also? That would give us $1600 back.

I can’t find too much info online on how this will all work…

]]> By: The Weakonomist http://www.consumerismcommentary.com/2009/02/26/8-ways-to-create-your-own-stimulus-check/#comment-188741 The Weakonomist Thu, 26 Feb 2009 13:30:25 +0000 http://www.consumerismcommentary.com/?p=5418#comment-188741 I used to be able to get overtime. As a salaried employee I still got full pay if I worked less, but there were many weeks when I'd put in 10+ hours of OT. That fun ended in the middle of last year. Since I knew it wouldn't last forever, I used all the extra earnings to pay off my car, instead of buying the big TV and other luxuries I still crave. My fiancé is looking at tutoring, if it works for her I'll probably get in on that. I used to be able to get overtime. As a salaried employee I still got full pay if I worked less, but there were many weeks when I’d put in 10+ hours of OT. That fun ended in the middle of last year. Since I knew it wouldn’t last forever, I used all the extra earnings to pay off my car, instead of buying the big TV and other luxuries I still crave.

My fiancé is looking at tutoring, if it works for her I’ll probably get in on that.

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