What did you spend your stimulus $ on?

[cstmg8]

I got all terrain tires for my Buick wagon. Then the rest probably will be on standby to help support my parents if they need it. Dad is a barber and has been out of work and not eligible for unemployment due to him being self employed

How does this work? Being punished for being self employed? It seems like there should be a way to prove income/revenue/taxes paid to qualify for unemployment.

Do you have to elect to pay into unemployment to be able to draw later?

 

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[Tractor]

I got all terrain tires for my Buick wagon. Then the rest probably will be on standby to help support my parents if they need it. Dad is a barber and has been out of work and not eligible for unemployment due to him being self employed

 

They did open up unemployment to include the self employed this time around unless that's an Ohio thing. Also the PPP and SBA loans are out there. I'm in process of getting my own approved and can advise him if you need help. My wife is also a banker and busy as hell getting these done for people right now.

[Mojoe]

I've not received our funds yet either. Our financial structure and habits haven't changed, luckily. Wife and I have lost some from investments, but being in our mid 40's we expect to recover. I have been stimulating the economy quite a bit from rigging up the boat for this season, so I hope that has helped those businesses.

 

I think when the funds do come in, we will put some toward our vacation fund and reinvesting.

 

For what it's worth, I talked to a CR member this week about the effect this is having on their world. My view of all of this is very narrow. This is all terrifying for many. Things they have spent their lives developing have been erased to have to start from almost scratch. Their income is effected and I'm sure their investments have tanked. I can see a lot of downsizing in lifestyles after this.

[BuckeyeROC]

They did open up unemployment to include the self employed this time around unless that's an Ohio thing. Also the PPP and SBA loans are out there. I'm in process of getting my own approved and can advise him if you need help. My wife is also a banker and busy as hell getting these done for people right now.

 

This. He should be eligible for the Paycheck Protection Program, which is a loan that can turn into a grant that covers 2-2.5 months pay plus certain expenses like business rent or mortgage interest, utilities, e.t.c. They've been flooded with applications and might be running to the limit of the first round of funds, but I would absolutely encourage him to apply. I think they will approve more funds at some point. This program may keep many small businesses and business people afloat.

[BIGGU]

Extra padding on the emergency fund for now, until things become less emergent.

+1. My wife's hours got cut big time so just throwing it into the emergency fund for extra padding

[10phone2]

Very fortunate to make more during Corona so we will just use the stimulus to redo the laundry room and put the rest towards credit card debt.

[PRD2BDF]

How does this work? Being punished for being self employed? It seems like there should be a way to prove income/revenue/taxes paid to qualify for unemployment.

Do you have to elect to pay into unemployment to be able to draw later?

 

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Dad is one of these old school parents, share nothing about personal finances but from what I was able to find out, he chose not to pay into the unemployment so he can't draw from it. He is currently waiting for Ohio to finalize the unemployment program for the self-employed. Fortunately, he doesn't have any overhead expenses at the moment (rents cheaply from his neighbor for the shop and he is basically the only one)

[Dammit Charlie]

Paid off a car.

[Exodus]

Saving to open business

 

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[Radio Flyer1647545514]

Rigging gear for work and stocks.

[Dharris89]

Either you are more well off than gets a check, you haven’t filed taxes recently with a return, or you need to give more info. They supposedly won’t just go ahead and deposit unless you give permission. In most cases that permission to deposit is same as when you give it to deposit a tax refund

 

That’s my take on it.

 

I filed 2018 but 2019 yet since they extended the deadline and I owe this year. I am under the income limit and have not changed bank accounts so idk.

[Jewtoys]

They did open up unemployment to include the self employed this time around unless that's an Ohio thing. Also the PPP and SBA loans are out there. I'm in process of getting my own approved and can advise him if you need help. My wife is also a banker and busy as hell getting these done for people right now.

 

 

That money is long gone!

 

 

 

I won’t be getting a penny, and that’s fine. But going on 6 weeks with a closed business, and still all of the overhead sucks. I will be fine though.

 

 

In regards to spending money right now, you would think people would be ready to deal a bit. I’m in the market for a new bike, and figured I will just purchase new to help a local business, vs going the used route. These fools are still trying to rake you over the coals on fees. $450 freight, $400 doc fee, etc. Emailed a dealer a state away, and within an hour was given an offer under MSRP and zero fees.

 

 

Side note, not a vette guy but man are people giving away C5Z right now!

[smokin5s]

savings account, gave the wife her half of it and I put mine in my savings... not sure what she did with hers. Would be nice if she used it on bills for a change though

[KillJoy]

Liquor and Ammo.

 

:fuckyeah:

 

KillJoy

[ODoyle]

Bought a 12K winch for the Jeep.

 

Wife bought a set of wireless headphones.

 

Kids is in a savings account.

 

The remainder is in our savings.

[Crossle]

We put it all in savings, will be investing all of it when the time is right. Fortunately the wife is still working full time and is the household bread winner anyway.

 

I've been "unemployed" for the last 3 weeks. I'm going back tomorrow and will be working "as needed".

 

Watching the marketplace and trying to take advantage of good deals as they pop up on cars. We have a couple we are hunting for.

[The Other Nick]

Fortunately I’m still working as the Sheriffs Office won’t ever be doing any type of layoffs. So I just took it and bought a majority of the parts needed for my h/c/I swap on my SN95.

[Richard Cranium]

I was planning to put mine into savings for a rainy day. Then my neighbor messaged me about a guy selling a Festool Domino. Got a basically brand new Domino and systainer kit for less than the stimulus. Would have been about $1500 otherwise. Looks like he only used 1 size of tenon for whatever he was doing, so about 1/2 of that size is gone, and the rest are full.

[cstmg8]

I was planning to put mine into savings for a rainy day. Then my neighbor messaged me about a guy selling a Festool Domino. Got a basically brand new Domino and systainer kit for less than the stimulus. Would have been about $1500 otherwise. Looks like he only used 1 size of tenon for whatever he was doing, so about 1/2 of that size is gone, and the rest are full.

Nice score. I've looked at the festool setup at Woodwerks. Did you already have the vac setup?

 

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[Franchi]

I was planning to put mine into savings for a rainy day. Then my neighbor messaged me about a guy selling a Festool Domino. Got a basically brand new Domino and systainer kit for less than the stimulus. Would have been about $1500 otherwise. Looks like he only used 1 size of tenon for whatever he was doing, so about 1/2 of that size is gone, and the rest are full.

 

Oh damn, I know EXACTLY what that is. SCORE!

[Geeto67]

used a part of it to help out a few local businesses we knew were struggling, not much but something is something. Rest went into the emergency fund.

 

 

That said....the bike flipper in me is waiting till next week to see if any really desperate forsale ads come up. Yeah I know it sucks to be a vulture, but if I can help someone who is in bad straights get some green in their hand while I get a bike I know will put green in my hand later on, everybody wins.

Edited April 20, 2020 by Geeto67

[Richard Cranium]

Nice score. I've looked at the festool setup at Woodwerks. Did you already have the vac setup?

 

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I don't have the vac, but I have a dust collector system in my shop, and I have a hose adapter that will connect to the Domino.

 

Oh damn, I know EXACTLY what that is. SCORE!

 

Thanks! I've been struggling with running out and buying one for quite a while, just couldn't pull the trigger. When I saw the deal I couldn't resist.

[Patrick]

Haven't touched ours. It'll probably sit in savings for a while, but I suspect my XJ is going to need some TLC. The last time I started it, a fair amount of coolant was coming out the fill neck. And I just replaced the rad not long ago

[Otis Nice]

Wife wants a new sectional for the new place now so...ope. Been in savings thus far. Def won't spend it all on that but it'd be nice to get a new bit of furniture.

[Miller]

Didn't receive one. What were the reasons/limits for receiving one?