Economic Stimulus Payment Schedule: EARLY!
The Stimulus Payments are schedule to arrive early due to better efficiency of the computer program used to process records daily rather than weekly. Instead of arriving after May 2nd, they will now start arriving April 28th.
The Government will give more than $110 billion to 130 million taxpayers, and according to the article on CNN Money:
“The program calls for rebates of up to $600 for single filers making less than $75,000. Couples making less than $150,000 would receive rebates of up to $1,200. In addition, parents would receive $300 rebates per child. Filers who do not owe income taxes but have at least $3,000 in income would get a $300 payment.”
What should you do with this money?
1. Pay down debt.
2. Save it.
If you want to buy yourself something small, fine, but the idea of spending that much money just for the fun of it when you aren’t really in a position to throw away money like that is ludicrous.
Mine will be going into a principal payment on my car, bringing it down almost $1000 from the principal alone.
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