Those of you who will be receiving K Rudd’s stimulus payments may be thinking – “what should I do with it?”
Well, the consensus is – spend it. That’s what it is intended for. It’s not a bailout for the poor or a battler’s bonus. It’s supposed to be an economical stimulus payment designed to inject money into the economy.
So what should you spend it on?
Well, just because you are being told to spend it does not mean that you should blow it on rubbish that you do not need.
I suggest that you make a budget for your payment – where it is $600, $900 or even more. If you do not plan what you will spend it on it will just get absorbed into your normal spend and neither you nor the economy will benefit.
Make a list of things that you have wanted to buy during the last 6 months, but you stopped yourself as you could not quite afford it or justify it. Use the stimulus payment for that!
What about your car or your house?
- A lot of people have put car servicing off due to financial pressures.
- Maybe there is something round the house that needs fixing, but you have not had the spare cash to get a tradesman in.
Sure you could just go and blow the whole lot on a few nights out or pay some bills, but why?
Bills will always be there and will always mount up, but how often do you get $900 to spend on whatever you like?
At the end of the day this is money which you did not have in the first place – why not treat yourself to something useful and tangible.
Here are a few specific ideas:
- Blow the lot on The Kevin37 LCD TV from Kogan - $900
- Keep water and money with a Whirlpool 7.5kg Front Load Washing machine - $700
- Fun for the whole family with Nintendo Wii Console - $400
- Upgrade your digital camera - $300
- David Jones Gift Vouchers – Buy $200 and get $220
Share your ideas - what will you be spending your payment on?
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