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(CNBC)   Here's how Americans spent their Covid stimulus money, including both Hookers and Blow, as well as various combinations of the two along the economic consumption curve   (cnbc.com) divider line
    More: Interesting, Money, United States Census, Washington, D.C., Midwestern United States, United States, Bill Clinton, one-time stimulus checks, Maryland  
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2469 clicks; posted to Main » and Politics » on 04 Sep 2020 at 5:05 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-09-04 3:27:01 PM  
Some spent it all on a vintage Corvette driver.
 
2020-09-04 3:42:54 PM  
I saved most of mine to use as an emergency fund for unexpected expenses.
 
2020-09-04 4:11:11 PM  
I comingled mine with funds from other sources and used them across more than 20 categories of purchases. It's quite a feat, but somehow I pull off the same scam every single day.

I'm like a professional money launderer.
 
2020-09-04 5:07:33 PM  
I don't even know bout all that stuff. I'm not the adult in this house, i don't even known what the rent is honestly.
I just work and do whatever i feel (i'm cheaply satisfied), and don't spend money when i'm told we're to poor to have fun.
 
2020-09-04 5:08:02 PM  
I saved mine because they're just going to want it back when I file my taxes.
 
2020-09-04 5:08:31 PM  
Any good or service bought with the COVID relief money is a much more helpful economic use of it than what rich people do what their money.

When poor people get money, they spend it on needs and a few indulgences, which stimulates the economy.
When wealthy people get money, they arrange it in special piles and just leave it there, not putting it into anything but itself.

Guess which one helps the country more?
 
2020-09-04 5:08:47 PM  
Mine went as an extra payment towards the mortgage. The soda industry stops for nothing.

Fun fact: our busiest week in the last few years was the week before MN announced the stay at home order.
 
2020-09-04 5:08:56 PM  
We paid bills and put some into savings not knowing what was going to happen with our business. We wanted to send all of it to Bidens campaign....Was hoping for another Trump socialist check so we could do so.
 
2020-09-04 5:09:33 PM  
Stuff. Bills mostly, a few local restaurant deliveries. A controller board in my hvac burnt out in the first week of august and that cost 950 bucks, so that took the lion's share.
 
2020-09-04 5:10:30 PM  

big pig peaches: I saved mine because they're just going to want it back when I file my taxes.


You file taxes? Sucker.
 
2020-09-04 5:10:30 PM  
Saved one third of it , paid off some bills and stocked up on food and booze ..
 
2020-09-04 5:11:13 PM  
Beer
 
2020-09-04 5:11:18 PM  
I think I only spent about $300 of it and that was to fix the car. Oh I did buy steaks for the roommates birthday but other than that nothing. Some might go for my dryer repair though.
 
2020-09-04 5:11:24 PM  
Dammit forgot about the hookers
 
2020-09-04 5:12:45 PM  
I was going to use mine for my student loans, but since payments have been halted I am saving mine until I have to start paying again.
 
2020-09-04 5:12:53 PM  

Bathia_Mapes: I saved most of mine to use as an emergency fund for unexpected expenses.


Like a pandemic.
 
2020-09-04 5:13:00 PM  
I guess I am a rich guy. I threw mine on the pile. Combined with not spending money due to lock down and my wife making a killing on divorces we are considering buying a lake house.
 
2020-09-04 5:13:51 PM  
I spent mine on a fridge.

/I believe I've gone from poor to "poor"
i.imgur.comView Full Size
 
2020-09-04 5:14:15 PM  
We got a new stove, but we were going to get one anyway.

The kiddo got a Nintendo Switch.
 
2020-09-04 5:14:19 PM  
I don't want to sound like an asshole (LOL, probably way too late to avoid that) but I still have a job and can spare the money, so I gave it to Planned Parenthood, the Democratic party and United Way.
 
2020-09-04 5:15:42 PM  
Mine went to my local NPR affiliate.  Mainly because the thought of Donnieboy becoming livid with rage should he ever find out that someone did that was very appealing to me.
 
2020-09-04 5:16:28 PM  

madgonad: I guess I am a rich guy. I threw mine on the pile. Combined with not spending money due to lock down and my wife making a killing on divorces we are considering buying a lake house.


Wait... Just how many folk was your wife married to?!?
 
2020-09-04 5:16:41 PM  
I built myself a new gaming PC with mine (plus money I had saved for a trip and had to cancel.  Flight insurance was good to me and refunded my airfare).
 
2020-09-04 5:17:26 PM  
I spent some of mine on a 3d printer.  I print some gaming minis, and some PPE accessories for friends and family - mask straps, things to grab doorhandles, etc.
 
2020-09-04 5:17:38 PM  
Republicans always think that people are going to spend government stimulus on vacations and luxury items and then one of two things happen:

1) They spend it on their debts because that's all a lot of people have anymore
2) They spend it on a luxury item and then Republicans freak out (like two women who went to Georgia after Hurricane Katrina and bought some Gucci handbags)

You can never win with these people.
 
2020-09-04 5:17:58 PM  
The benefit of the economic downturn is you only need to be a thousandaire to do two chicks at the same time now.
 
2020-09-04 5:19:47 PM  

GodComplex: The benefit of the economic downturn is you only need to be a thousandaire to do two chicks at the same time now.


Judging by the local craigslist, you could get that going as a hundredaire.
 
2020-09-04 5:20:43 PM  
Security deposit for an apartment. Living indoors is important.
 
2020-09-04 5:25:40 PM  
Spent it all on Kanye kicks
im.indiatimes.inView Full Size
 
2020-09-04 5:27:12 PM  
Just finished spending it on some long delayed maintenance projects.  Large tree removal and fence repair.  Time to fix the deck next.
 
2020-09-04 5:28:33 PM  
I had the replace the microwave and now I need to replace the well pressure tank. Pretty sure the dishwasher is about to go.

The joys of home ownership...
 
2020-09-04 5:29:20 PM  
Spent mine on bills. No pay, no services. Two friends of mine in the same economic situation, one even worse, never even got theirs.
 
2020-09-04 5:31:38 PM  
Right on cue we had $2300 in appliances blow up and stop working between the last week of Feb and the last week of March. What was left went to food.
 
2020-09-04 5:33:36 PM  
I donated most of mine to Democratic candidates both National and Local.  I also gave the rest of my #PelosiCheck to local charities including one for bartenders/waiters in our local area.
 
2020-09-04 5:33:37 PM  

madgonad: I guess I am a rich guy. I threw mine on the pile. Combined with not spending money due to lock down and my wife making a killing on divorces we are considering buying a lake house.


I guess I am a rich guy.  I didn't get a check, nor did I need one.  Combined with not spending money due to lock down, and me being a good citizen and staying TF home, my guitar collection has wickedly expanded.
 
2020-09-04 5:34:22 PM  
Mine went into rent and food, and what little was left went into an emergency car repair with most of the rest of my savings.

It wasn't spent on anything fun, but unfortunately I am addicted to shelter, food and clothing, so that wound up taking priority (In my defense, I am trying to quit, but those are hard habits to break).  I did have some other plans, but unfortunately life enjoys shiatting on any plan I try to make.
 
2020-09-04 5:35:48 PM  

cherryl taggart: Just finished spending it on some long delayed maintenance projects.  Large tree removal and fence repair.  Time to fix the deck next.


My deck up here in Cumming (a Cumming deck?) is rotting and I'll be replacing it when the weather cools down a little more.  Thankfully I just need to replace the actual decking and rails and not "the bones."
 
2020-09-04 5:36:10 PM  

GodComplex: The benefit of the economic downturn is you only need to be a thousandaire to do two chicks at the same time now.


Sometimes you only need to be a toilet paper investor.
 
2020-09-04 5:40:12 PM  

shootsright: Spent it all on Kanye kicks[im.indiatimes.in image 725x400]


Looks like he stepped on a facehugger.
 
2020-09-04 5:41:45 PM  
Spent mine on a new computer to replace the 2007 model i had been using... slowly to work from home.
 
2020-09-04 5:47:05 PM  
We used ours to break our lease and get the hell out of Florida.
 
2020-09-04 5:51:35 PM  
I spent mine on reducing my debt.

/closing in on zero
 
2020-09-04 5:54:51 PM  
A lot of people bought home gym or office equipment.  Especially home gym stuff- that fire sale and shortage madness is still happening.
 
2020-09-04 5:56:54 PM  
I got an Elegoo Mars 3d Printer
 
2020-09-04 5:56:57 PM  
Part of it to put a credit card balance to sleep, the rest in the general fund.
 
2020-09-04 5:57:06 PM  
At first I was like come on now America, your mom isn't going to see your responses.

But then I remembered pretty much everything fun was shut down.  So responses are probably legit
 
2020-09-04 5:59:55 PM  

BlippityBleep: A lot of people bought home gym or office equipment.  Especially home gym stuff- that fire sale and shortage madness is still happening.


You can say that again. Had to pay 400 for the olympic starter set you can get at Dick's for 250. Waited for months to try and buy them directly from Dick's but no luck. I got tired of waiting and so decided to pay a scumbag price gouger to get them now. Good news is I believe Dick's has finally set a one per person policy on these.
 
2020-09-04 6:03:23 PM  
What a sec...TFA says..."Of people earning less than $25,000 per year, 77% reported using their stimulus payment for expenses like food and rent, while 48% of those earning between $100,000 and $150,000 reported the same."

I thought nobody who earned more than 100k was eligible for a stimulus check.
What am I missing...or missing out on?
 
2020-09-04 6:07:21 PM  
I don't know how I would even calculate where that particular money went.  I mean, it popped into the account, but we just proceeded like normal.  It's like trying to say your electricity was 100% green, when it came from the grid mixed with everything else. I set up a $100/mo auto-donation to the local food bank that I'll run for the next year, but it's not like that SPECIFIC $1200 went to anything in particular.  My wife's share, that's her business.

My wife and I have a joint account that we use to pay joint bills, and just put in the same amount to that account.  Since it went in that account, I guess we put less in than usual, so we each would have a surplus in our own accounts, and we'd ferret more to savings for a few months.  So, by that indirect process, it went into savings.  It was especially hard to notice because the whole shutdown/distancing thing put such a damper on everything, we're already putting extra money away each month.

madgonad: I guess I am a rich guy. I threw mine on the pile. Combined with not spending money due to lock down and my wife making a killing on divorces we are considering buying a lake house.


I think this is probably a good example of a social class divider.  Upper made too much to get a stimulus payment. Middle Class got a deposit/check but just kinda shrugged.  Working class got a deposit/check and immediately spent it on necessities.  Poor got a debit card because they don't have bank accounts.
 
2020-09-04 6:10:52 PM  
We used it on a new roof and finishing the vinyl siding on the house. We were spending the money anyway but it just meant spending less of the money set aside.

/it's a little house
 
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