Spend, Save or Pay Bills? Here Come the Government Checks!

Truliant Federal Credit Union conducts an informal survey each year to see how members plan to spend their tax refund checks. Of course, the economic stimulus payments are also part of the mix this year (the first checks are hitting accounts today), so Truliant added a question about how members plan to use this extra money. You’ll find the results here – interesting stuff … and it reveals a change in consumer behavior due to the deteriorating economy.

My check is due in next week, and I’ve dedicated about 25% of the anticipated total to buying a hammock (in fact, I bought it Friday night and got hours of enjoyment this weekend). The rest is going to pay credit card bills. Debt retirement may not be what the government intended, but that’s what I’m planning to do just the same.

So what are you planning to do with this added money, and is the economy having an impact on your decision?

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3 Responses

  1. Like yourself, I have a combination of “save, spend and pay bills.” Sadly, most of mine is going to the ever popular “pay bills” section, and I don’t think we are getting anything as nifty as a hammock! I think we are going to buy shelves and re-do some of our interior. So I am making more work instead of relaxation.

  2. Bills, bills, bills. I might spend a little bit to finally get a bluetooth headset, though.

  3. I’m putting mine in my “travel fund”…which eventually ends up stimulating another country’s economy. Oh, the irony!

    Jeff Stephens
    CEO
    Creative Brand Communications

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