The Boring And Unsexy Thing I Did With My $1200 Stimulus Check

The Boring And Unsexy Thing I Did With My $1200 Stimulus Check

woke up this morning to a stimulus check
the other kind of morning surprise

The Morning Surprise: A Stimulus Check!

I woke up this morning to find the $1200 stimulus check from the IRS was direct deposited to my bank account.


Once the excitement subsided, I went about enacting a course of action that I planned weeks ago since I found out we were going to get this money.

I used $100 to buy a stock of a company I am trying to take over in the near future.

I then put $100 to my Vanguard S&P500 Index mutual fund.

The remaining $1000 I am putting to my Ally Bank savings account to save toward buying a house once this coronavirus hoop-dee-ha is over.

And there you have it ladies and gentlemen, the boring and unsexy thing I did with my $1200 stimulus check.

But Wait, Shouldn’t You Spend It All?

shopping with your stimulus money?
to shop or not to shop?

When I told one of my friends my plan, they said, “That’s bad. It goes against the point of the stimulus check. You’re suppose to spend it to stimulate the economy. If everyone thought like you, we wouldn’t get anywhere.”

And while my friend has a good point, I technically now have the property rights to do whatever I want with my money so he can go F himself.

But I didn’t tell him that.

We kept talking.

We talked about how some people are going to use their stimulus check to pay their rent but I brought up a point that in the New York City metropolitan area, rent can start around $2000.

So a $1200 doesn’t cover rent.

However, if you go 5 hours north of New York City, rent is about $300-$400 a month.

So that $1200 check can help pay for rent in that case.

Not to mention if you live in The South, Florida, or The Midwest, this $1200 can help with a couple of months of rent as well.

So the stimulus check disproportionately helps out some people in certain geographical areas, but doesn’t help much in others.

Which is why if it can’t go toward rent, I understand why some would use it to stock up on groceries, alcohol, or any miscellaneous stuff.

What One Friend Is Doing

One of friends is going to be putting most of the money toward paying off his credit cards.

Which makes me think that a lot of Americans are going to be putting this money toward paying off their debt.

Another friend is going to be using it to stock up his liquor cabinet.

I think one of my other friends might be saving the $1200 for a trip to Thailand or EDM concerts after this corona thing is over.

So In The End, What Should I Do With My Stimulus Check?

Hey, it’s your money.

You do with it what you will.

But I understand your moral quandary.

Should you use it to better your:

financial situation? (pay down debt, invest, savings etc.)

home or physical situation? (home improvements, buy toys, games, etc.)

spend it all on experiential things like eating out and alcohol?

silly fun things you’ve always wanted but never had the chance to buy?

I don’t have an answer for you.

The point I wanted to get across was to not get carried away with this free money and spend it willy nilly without thinking of making smarter choices that might benefit you later down the road.

During times like this (times of free money being given to me), I remember Robert Kiyosaki, author of Rich Dad, Poor Dad, saying something like if you give money to ten people, four of them will use it and end up deeper in debt.

Four of them will spend it and end up the same as where they are now.

The last one to two people will use it to become richer.

I plan to be in the last part of the group of people.

Counting My Blessings During Times Like These (as some would say, privileges)

I’m blessed that I am able to live at home with family and pay really low rent.

I’m also blessed that my food costs are minimal because I live at home with my family.

I’m also blessed to be working in an essential business during these times so I still have a job to do when I wake up in the morning (and still have an income).

I suppose I will just keep on doing boring and unsexy things until this coronavirus thing is over lol.

Some resources:

For more info, you can go right to the IRS website directly.

Here is their website talking about the “economic impact payments” AKA stimulus checks.

the boring and unsexy thing I'm doing with my $1200 stimulus check


Jack The Dreamer

I'm a dreamer. But you know what? All the best people are. And if you're one too, join the revolution! My blog is about being financially independent and working towards that goal each and every single day so that we can all start living the life we've always dreamed of! Jack the Dreamer, over and out!

This Post Has 10 Comments

  1. Hey Jack, it’s nice to read an update from you—it’s been a while! You’re right that the value of the $1,200 cheque varies so much in different parts of the country. It’s tricky to be equitable with something like this. 🙁

    I hope you’ve been well. Stay healthy and safe!

    1. Jack The Dreamer

      Hey Chrissy! For sure! Thank you for your comment! I’ve been busy the past year getting my small business off the ground and running 😆 would love to blog more. How are you and the fam doing?! I heard rumors Canada is going to do like a $1000 a month check to citizens?

      1. We’re doing well here. No, Canada isn’t THAT generous! What they’re doing is setting up a taxable benefit that will pay $500/week for up to 16 weeks.

        There are certain requirements to qualify, and you have to apply for it. So unfortunately, it doesn’t just go to everyone!

        Congrats again on launching your business. Sounds like it’s keeping you busy and employed.

      2. Jack The Dreamer

        Haha yeah it is! How does that work? Like you get $500 in money direct deposited to your checking account or it’s a tax credit from your income?

  2. Andrea

    Hey Jack! The “stimulus” check for some, is survival for others, so that being said – yes it is my money to do with as I see fit. It will mean different things to everyone, and yes for some people it is rent and for some people they can buy stock in the company they are going to take over! I also am working, and have minimal rent/food etc. So – I actually gave some to a friend that needed to pay water and electric bill, and may not get a stimulus payment. In my friends case it is survival. For me, the rest is going in savings. Good to see a post from you! Stay Safe!

    1. Jack The Dreamer

      Aw that’s awesome Andrea! 😍 thank you for your comment! It’s been a while indeed 😅 that’s very nice of you to help your neighbor!

  3. Hey Jack! Sorry, I completely forgot to reply to your last comment. I believe you get $500 deposited directly into your account every week, which is really convenient!

    1. Jack The Dreamer

      That is AWESOME! Has it started? Have you heard from friends and family and or the community who are benefitting from such a program right now? Lol

  4. Yes, I’m pretty sure it started a month or more ago, and I know at least two acquaintances who have benefited. I’m fortunate that no one I’m close to has suffered any loss in income yet. Fingers crossed that most of us manage to maintain our income through this. 🤞

    1. Jack The Dreamer

      Awesome! And yes def. best wishes for you and your close ones 😊

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