Stimulation! What Are You Going to Do? - Page 2

rodaniel · 04-13-2008, 04:37 AM

Mywife & I both work at the same company and they started an incentive plan last year to get employees involved in cutting costs and/or quality improvement. As a result of some really great efforts throughout the company, all of the employees qualified for a bonus check that's a percetage of their regular 80 hour paycheck.

So, we're taking that unexpected little windfall, along with the stimulus check, and a few little dabs of cash we got at our baby shower and rolling all of that into a savings account for our son. We've committed to having any "unexpected" or bonus monies we come across from here out always going into his account, not ours.

I'm really proud to say that I still have the credit union savings account that my mom started me off with as a pre-teen. In fact, I got a loan against that account to buy my first 'real' computer - an 8086 Turbo XT - about 25 years ago.

So, we're starting our son (who turns 2 in a couple of weeks) off with his first savings account in the hopes that he'll keep his as long.

Philip Brewer · 04-13-2008, 07:08 AM

I wrote an article a while back on how I think about windfalls (such as the economic stimulus rebate):

http://www.wisebread.com/its-all-your-money

Basically, my take on it is that unexpected money is no different from expected money--it's mine, and I'll spend it just the same as I spend all my other money.

That article did generate some interesting comments, though, from people with a different take on it.

Frugal Fannie · 04-13-2008, 08:20 AM

We don't have any debt other than the mortgage so we are buying two new bikes and saving the rest.

starshard0 · 04-18-2008, 02:16 PM

Any rebate I get is getting invested right along with the rest of my income.

Ronni · 04-19-2008, 05:22 PM

As someone said, I'll believe it when I see it... but I plan to toss it in savings. If I am feeling expansive, I might take $50 or $100 of it and have a bit of fun with it, but otherwise, I plan to build up the savings account.

jdp · 04-21-2008, 05:53 AM

Transfer it immediately to the house downpayment subsavings account! Before I have a chance to nickel and dime it away.

Linsey Knerl · 04-21-2008, 08:14 PM

We just paid off all our credit cards and are sitting on several major car repairs, so we'll make sure all of our vehicles are running smoothly (including the tractor). We also have plans to have a nice garden and some more chickens and a couple of calves so that we can continue to grow our own food.

Can you tell we're country folk?

kickchk · 04-22-2008, 06:30 PM

Most likely it will go towards my student loan. Maybe take a little of it and go out to dinner, but that would be the only splurge.

starshard0 · 04-22-2008, 06:31 PM

I hear a lot about these "student loans." I guess I'm one of the lucky few who doesn't have any.

just_kelly · 05-01-2008, 07:33 AM

So excited about the rebate checks!
What I'm planning to do:

1. Use on our upcoming vacation to Alaska.
2. Get dental work my husband needs done.
3. Use the remainder to pay down debt.

04-13-2008, 04:37 AM	#11
rodaniel Member Join Date: Dec 2007 Location: Odessa, Texas Posts: 39 Reputation: (10)	Mywife & I both work at the same company and they started an incentive plan last year to get employees involved in cutting costs and/or quality improvement. As a result of some really great efforts throughout the company, all of the employees qualified for a bonus check that's a percetage of their regular 80 hour paycheck. So, we're taking that unexpected little windfall, along with the stimulus check, and a few little dabs of cash we got at our baby shower and rolling all of that into a savings account for our son. We've committed to having any "unexpected" or bonus monies we come across from here out always going into his account, not ours. I'm really proud to say that I still have the credit union savings account that my mom started me off with as a pre-teen. In fact, I got a loan against that account to buy my first 'real' computer - an 8086 Turbo XT - about 25 years ago. So, we're starting our son (who turns 2 in a couple of weeks) off with his first savings account in the hopes that he'll keep his as long. __________________ Life's a beach! \| http://www.2Dolphins.com/ Liam is finally home! \| Rob & Dede's Russian Adoption Journal

04-19-2008, 05:22 PM	#15
Ronni Member Join Date: Jan 2008 Location: Chicago, IL Posts: 92 Reputation: (25)	As someone said, I'll believe it when I see it... but I plan to toss it in savings. If I am feeling expansive, I might take $50 or $100 of it and have a bit of fun with it, but otherwise, I plan to build up the savings account. __________________ - Ronni http://lilrongal.livejournal.com

04-22-2008, 06:30 PM	#18
kickchk Member Join Date: Apr 2008 Location: Alabama Posts: 60 Reputation: (10)	Most likely it will go towards my student loan. Maybe take a little of it and go out to dinner, but that would be the only splurge. __________________ Blog: Southern Blog My Shop: Organic Suds

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04-13-2008, 07:08 AM	#12
Philip Brewer Wise Bread Blogger Join Date: Jul 2007 Location: Champaign, IL Posts: 26 Reputation: (15)	I wrote an article a while back on how I think about windfalls (such as the economic stimulus rebate): http://www.wisebread.com/its-all-your-money Basically, my take on it is that unexpected money is no different from expected money--it's mine, and I'll spend it just the same as I spend all my other money. That article did generate some interesting comments, though, from people with a different take on it.

04-13-2008, 08:20 AM	#13
Frugal Fannie Member Join Date: Feb 2008 Location: Adirondacks Posts: 40 Reputation: (10)	We don't have any debt other than the mortgage so we are buying two new bikes and saving the rest.

04-18-2008, 02:16 PM	#14
starshard0 Member Join Date: Apr 2008 Location: Monterey, CA Posts: 77 Reputation: (10)	Any rebate I get is getting invested right along with the rest of my income.

04-21-2008, 05:53 AM	#16
jdp Senior Member Join Date: Jan 2008 Posts: 173 Reputation: (24)	Transfer it immediately to the house downpayment subsavings account! Before I have a chance to nickel and dime it away.

04-21-2008, 08:14 PM	#17
Linsey Knerl Wise Bread Blogger Join Date: Jun 2007 Posts: 71 Reputation: (21)	We just paid off all our credit cards and are sitting on several major car repairs, so we'll make sure all of our vehicles are running smoothly (including the tractor). We also have plans to have a nice garden and some more chickens and a couple of calves so that we can continue to grow our own food. Can you tell we're country folk?

04-22-2008, 06:31 PM	#19
starshard0 Member Join Date: Apr 2008 Location: Monterey, CA Posts: 77 Reputation: (10)	I hear a lot about these "student loans." I guess I'm one of the lucky few who doesn't have any.

05-01-2008, 07:33 AM	#20
just_kelly Junior Member Join Date: Dec 2007 Location: Tallahassee, FL Posts: 10 Reputation: (10)	So excited about the rebate checks! What I'm planning to do: 1. Use on our upcoming vacation to Alaska. 2. Get dental work my husband needs done. 3. Use the remainder to pay down debt.