How are You Going to Spend Your $8?

So now that the stimulus bill has been signed into law, we all are going to see a Lincoln or two extra in our paychecks. I hear some grumbling about this from friends, but I think in the long run this will be more stimulative than a one-time payment of $400 because the propensity to spend a smaller, weekly amount is a lot higher than a one-time payout. A larger sum would be more likely to be used to pay down debt, or to invest in assets with little to no multiplier effect (for the record, I spent my stimulus check last year, as well as my tax refund this year. Just doing my patriotic duty!).

So, what is the best way to spend this money? The WSJ asked a bunch of economists to weigh in. There are some pretty good ideas in here like using it to make your home more energy efficient, or donating to a local soup kitchen. My plan? Tipping the guys at my local ski shop. Putting money into small businesses is always a good choice.

What’s your plan? Leave a comment below. The best one (decided by me) will get a free NSCS sticker.

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