Stimulus Checks: Who Gets it? How Much? What to Do With It.
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- Опубликовано: 30 мар 2020
- (CARES Act) Stimulus relief checks are on the way for most Americans. In this video I talk about who will get it, how much money you can expect, how to receive it fastest, as well as what to do with it once it comes. Plus what our family is doing while we "shelter in place" during these uncertain times to keep our spirits up.
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Hey there! I'm Dana. I'm a wife and Mother to 4 kids, including twin boys and two girls. I work full time outside the home in finance as a Corporate Accountant, but enjoy sharing my personal and parenting journey online. We live in the Philadelphia area.
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After this passes, I’m back on track with being debt free! Never again will I be in debt! 🥰
Honor the healthcare workers and first responders. Literally risking their lives for all of us!
Every day walkin into the hospital maked me sad . I had to take off 2 days just to decompress
I really think the world is going to be very different after all of this. I am trying to take all the lessons I can from this experience. One thing is for certain... there will be more health and financial crises in our future. I learned alot about panic buying and how people will react when they are afraid and how I can protect myself. For spiritual reasons I have decided for a dozen years now to live a very simple God centered life. I don't have many bills, I don't have debt and I don't own much. I own 100 articles of clothing including only 6 pairs of shoes. I tell you this because in bad times ...when money and other resources are short I am Ok. My stress is far less than those around me. We always try to get more and more of the treasures of the world and yet these things can be so easily taken from us. It makes us less able to cope in crisis. Jesus is right. You need to focus less on the worldly things which can be lost and are so temporary. Focus on what is eternal. Those treasures can't be taken from you. Keep it simple. Keep looking up.
Yes mam! I'm with you.
Totally unrelated, but the violin made me smile. I'm a public school teacher that teaches 5th-8th grade orchestra in my district 🎻🎻🎻🎻
Excellent reference point of Anne Frank... I hadn't connected the two and I think that is an excellent perspective. Thank you.
I truly appreciate your calm tone and approach on this topic. It's soothing during a very stressful time. Waiting and seeing is exactly what we are doing too.
Relatives laughed at me for paying off my house a few years ago. I really found out through this, I am not happy with my emergency fund. It is a wake up call and I have a list of things I am going to be working on in the future.
Good for you! You are well on your way!
75 thousand or less? I made 74,7!
Love you too Dana! As usual a crystal clear explanation and encouragement.
Yay!
Great encouragement, Dana. I enjoyed seeing your children working on school work as well as the violin! We WILL get through this and be better, more grateful people because of it. ❤️
Thank you for mentioning Anne Frank, as she couldn't even go outside. We are fortunate to be able to go outside, among many other things.
Erin Moran yes thank you for mentioning Anne Frank I just ordered the book Anne Frank the diary of a young girl and just received it a month ago I cannot read it right now how ironic this all is and the pain she and her family endured makes me grateful that I know Gods blessings are upon me and everyone who believes and trusts in him as their savior! God bless you and your young family and America stay strong this too shall pass
Ugh! Learning how to play violin has been on my bucket list for forever! Thank you, Dana, for your calm reassurance! We are all in this together 💕
So grateful for channels like yours! From the beginning of 2019 I really worked to educate myself on financial literacy through videos like yours and others. Worked hard at paying off my debts and I managed to save almost 6 months of expenses. Not able to work during this time because my job can’t be done from home so I’m really thankful to have funds set aside.
It can be what we make it, enjoy being at home with your children - our business is shut down because Governor Wolf has said we are non essential. I haven't been at my job long enough to receive unemployment...fortunately, i have another income. So, being able to stay at home has been wonderful. We are talking, enjoying each others company, Eating meals together (with my schedule, we rarely get to eat together at the same time) and i gotta express I'm lovin it!
apply any way... just incase...it won’t hurt ...they are helping us self employed...so you too might benefit 😇
This was comforting. Much love to you and your family Dana and thank you for still making content during this crazy time.
The majority of people I know were not prepared for this. In my area our schools were not prepared and our country wasn’t prepared.
Thank you for taking the time to do your videos
I don’t foresee losing my job and have 3-6mos. in savings but I plan to use most of the stimulus to support small locally owned businesses here. I think it’s extremely important. I’m trying to support them now where I can. Tipping well at restaurants when I get to-go food. Stuff like that.
That's great and considerate of you. You're a wonderful inspiration.
Silver lining, people, government agencies and business owners have a chance to see all their errors in terms planning their budgets, etc. Now everyone has a chance to make or plan any necessary changes. This crisis may bring about new products and services. God Bless. Hope everyone makes this a productive timeout from their usual life and make necessary plans to make improvements in the world.
I hope people do this! I wonder though,.so many people didn't see the light during 2008 - once the economy got better they just went back to over spending... So I guess we will see 🙂
Hey from Alabama ! Praying for you and your family ! Thank you so much for all the videos that you do . I always look forward to seeing them . 🙏🏻❤️😊
Thank you Dana 🙏🏼stay safe and healthy May God Bless you all !!!
Thank you for this Dana. The dory and Tom hanks inspiration meant a lot 💕 stay healthy everyone
Great video Dana. Glad to hear from you and that you and yours are well.💜
Calm and still. I like that.
Great job, Dana! Keep the videos coming.
Love you too, Dana! Thank you for what you do.
Hi Dana, I had been thinking about Ann Frank too. Love ❤️ your videos. All the best to you and your family.
Thank You, Dana!! All the best to you and your family!! xoxo
Thank you for reminding me of Anne Frank. The Frank family (& the people who were with them) had to stay inside to survive. Our stay at home guidelines aren't as restrictive as their's were, but self isolating will save our lives. I know it is not possible for everyone to stay inside all the time (thank you health care workers, grocery store employees, postal carriers, delivery people, bus drivers, etc.) but the ones who can stay inside can help the ones who do have to go out. We can help them by staying inside & staying healthy. Good luck, everyone.
Thank you for your encouragement!
Good morning Dana! I don’t know how you guys do it with only 1 bathroom. God bless you! I have 2 teenage sons so we down sized from 3200 sq feet to 1600 with 1.5 baths. I’ve been listening to Dave Ramsey and advice from you and the emergency fund was hard to set up but it’s a life saver. We’re still bless to still have a roof and food. Be safe and healthy!
You always have great advice!
All the best to you and your family.
I have a more of an urgency to get debt-free and to lose weight. I also have a greater gratitude for simpler things in life. It also made me appreciate all that people do to keep our world running. I have also been more frugal except for the few times I freaked out and went through a drive-through. After this passes, we go to our new normal I plan on concentrating on health and wealth. Stay safe y’all!
Thank you for the end of this video... I was somehow calmed by the “everyday the sun will rise... breathe... “ thank you! God bless!
Let this be a wake up call and get close to God. Heaven and Hell are real. Open your bible. God is still on the throne💕
We are already close to God. There is no sepearation! God is Love! Fear is a vibration. We are all energy and information on a molecular level! We must wake up to who we truly are! The kingdom of heaven is within! We are all ONE!!
Yes He is Sis!
Yes He is on the throne Sister Crystal!
@@InnerLuminosity I mean ask God into your heart and life. A lot of people are not saved. This is a wake up call from God for people to give their life to him. And for me as a Christian a reminder to talk to him daily, read my bible, be grateful, tell others about him so they too can be saved. 💕
@@cswafford1987 ❤❤
Lots of time to practice violin during quarantine!
Thank you Dana !!!
Thank you. 👍 Just keep on swimming🐠!♥️
Great advise Dana we were in the middle of paying down our debt I didn’t think of saving that money. I thought great chance to paying my debt
Great video Dana!!
Thank you Dana for the information & inspiration👌🏼💜
You are right - it's not a matter of if it's a matter of when ...
#prepare #thankyou
Very few people have savings. They have nice cars and new iPhones.....but no savings. Some people legitimately don’t have enough left at the end of the month to save, others don’t understand the difference between needs and wants and put their wants above establishing an emergency savings. We have 3 months and I’m wishing we’d worked hard to get in to 6 months before all this happened.
Im curious, I had to pay in a small amount for my 2019 return. But I got a refund in 2018. Will they use the 2018 direct deposit information?
Brilliant idea! I think it is time to share Anne Frank with my kid
My husband and I were talking about spending or giving the money to help our community and small businesses. Would it be better to go into storm mode and then help with the recovery needs or bring our local food bank a bunch of food etc? What about groups that rely on volunteer support to make it will the government help them too?
Good question!
I made more than 75,000 last year. I worked two jobs, busting my ass 7 days a weeks (most weeks), trying to get ahead with my debt and bills. As a single person, I paid a great amount to the feds and my state in taxes. I want the government to help the people in need, but it feels I am getting penalized for working hard, pay my taxes in time, and be a productive member of society. How is this fair?
I heard that 2018 taxes are ok sine the 2019 tax filing deadline was changed to July 15. Did I get some bad information?
No youre good
What if I filed married separate?
I am 18 years old I filled taxes in 2018 and 2019 and no one claims me as a dependent on their taxes will I receive a stimulus check?
Yes, if you made under $75,000.
What about people who filed 2019 taxes and owe? No direct deposit information was required. Will those be mailed out?
I'm No expert I'm just trying trying to help. I think the IRS site will have a place to give your banking info for direct deposit. Not sure if it's up already, check it out.
I owed money, too, so I didn't put direct deposit information in. I assume those will go to our physical mailing address.
I am remote Teaching for the rest of the year. I miss my students
Oh my you need a port a potty 🚽
It’s terrible to be made to stay home 🏡 we are a Retired couple and usually only go out when needed. But now it’s crazy 😜 Thankful for my Husbands Police Pension and SS Retirement, we are SO frugal and Praise God every day for our ER fund , we have another nest egg 🥚 and designated accounts for category Car & Truck maintance, House Maintance , and just ordered our seeds and plants 🌱 for our Vegetable garden.
Love your channel and following you ❤️
I am curious if you know if someone like my mom will get stimulus check, she hasn't worked in a few years and is trying to get her disability. She hasn't filed taxes the past few years since she hasn't had any income.
My husband is in the same position. His next hearing was going to be 6/5. Now who knows. We've been in this process for 6 years.
I am very thankful that I did Dave Ramsay's Financial Peace University a year ago and have my 3-6 months savings. But, right now I don't need it because I work in healthcare and I'm still working through this. My heart goes out to all the people who are either out of work or working from home and trying to homeschool - none of this is easy, be kind to yourself.
What do with it?
Rent
Groceries
Light bill
Some ppl dont have much income. No savings with insufficient intake.
Many of these stimulus videos do not explain that the $75,000/$150,000 limit is based on your Adjusted Gross Income (AGI) found on line 8b of your 1040 form. This is important because if you max out your 401k and have pre-tax medical taken out, your AGI can be be as much as $25,000 - $30,000 less than your gross income for the year.
Hubby and I split our check and I will put half of mine in paying a credit card off quicker and the other $600 in my savings. I'm retiring in 20 months with zero credit cards. The only payment I will have is my SUV which is manageable for the next 18 months.
Haven’t read Baby steps yet.nows a good time. Plenty of time on my hands. My 8 year old daughter is doing school work in an actual paper notebook .the computer school thing is up & down.going with the flow.be the willow not the oak.
2018 taxes right? 2019 got extended
Cindy Ricksgers I’d also like to know
I believe that if you haven't filed the 2019. They'll go by 2018
Many of us here ,have lost are jobs. Need more ideas on this Situation. Not complete information on the stimulants 😔🤷🏻♀️
What if your child is 17?
Do they still get 500$? And if not that doesn’t seem right.
Do yoga! work one day, teach the other day , so one person can focus on Work! Make school programs just like in school. Stipt time scedules no discussions. Sports is a game in the garden, hulahupe or yoga with the kids. Help making dinner is part teaching to. tell them how it grows, how to cook it.
A bucket can turnt in to an emergency toilet! Relax
Ps dancing on music🎼🎵🥁 is sports to and relaxes, marche funny faced through the livingroom, and stairs are Nice to...might give the kids the laundry basket to bring upstairs as extra training for the upper body😉 saves you stress and time
So do you not get the $500 if you had a baby after the first of the year since they wouldn’t be on the 2019 tax return?
Hi Dana, thanks for addressing these stimulus checks. We're expecting to receive one. I would appreciate your thoughts-- we have no debt except for our mortgage and are working on Baby Step 3 (beefing up our savings account), but I can't shake this feeling that the whole point of the stimulus checks is to stimulate the economy. For example, hiring a contractor to come and do some work on our house so that businesses stay afloat. My husband has tenure at the University, so we feel pretty secure with his job. Should we stick it in our own savings or should we help our local businesses and get some home work done? I guess what I'm saying is, look after ourselves and our own financial security or the well-being of the entire economy? PS.. love that quote from Tom Hanks in Cast Away! ;)
Ashley Gagné I’m no expert & am in the same step 3 that you are. And I agree with your thinking. We’re planning on using our stimulus to support the locally owned small businesses and local economy. Right now we’re supporting the local economy as best we can by ordering tipping big when we order to-go, stuff like that. I think another way to help right now would be to buy gift cards that you can use or gift away later when this has all passed. We have a friend that lost his job after buying a piece of land and some cows. He’s found a side job for now already and still plans to grass feed the cows as planned and we want to support him so we’re looking for family members to go in on one with us. Trying to think outside the box
Around June things will be back to normal.
I think you're dreaming.
I don’t really think ANYONE can predict that.
Sassy Nana I think you’re right. Hoping and praying for that anyways.
What about us older people who live off Social Security, I make around 15,000 a year. I would think we could use the help,I don’t do taxes because of that,this is costing me money ,but I’m used to not having much so this will not be such a hard time like the ones who make a lot more
The last time a stimulus check was given by the US govt, I helped my grandparents file their taxes that year so they could get it. H and R Block let me file online for free.
Is it true this money is an advancement for 2020 tax returns?
Go to Lydia Senn RUclips channel. She also explains this process too!
The USA stimulus plan is way better than Canada.. .. you people should be grateful in the USA 🇺🇸 stay safe...love from Canada
From a tax accountant: Something everyone is missing is that there NO payment for any person that is 17 or older claimed as a dependent on a tax return only children up to 16 on Dec 31, 2019. Just irritating that not only don’t I get a check for my 18 year old but she doesn’t get one either even after paying $100 this month in self employment tax on her own return.
And, if you live on Social Security as many do, then what? Love your videos Dana, I have followed you for a long time. However, it would be good to suggest saving any government cheque provides. Also, be aware that banks are putting a limit on the amounts that can be withdrawn on a daily basis. How would one feel if they put money into savings only to be told it was unavailable? Several young pharmacists have told me there will be no shortage of prescription medications. Don't be naive and believe everything one is told regardless if it comes from someone with a degree or not! Truth is, they really have no clue; always best to be safe , not sorry!
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Hi. Dana. I made about 19,0000 for 2019 am single what do you think my stimulus amount would be?
It'll be 1200. It won't go down if your income is lower.
*The key thing for anyone who wants this money is to file their tax return for 2019.* 😉
I don't file taxes so do that mean I'm not going to get the money I'm on SSI so do the people on SSI get anyting
Aneeda Masone They will use your 2018 tax records if you haven’t filed 2019 yet. There are unusual exceptions for people on public assistance who never file in this Forbes article:
apple.news/ARVHQp2prQIuR-cxXHGsxcA
I made 93 Thousand married 13 year old will I get a check thanks
I love your channel Dana, but ouch! I had to stop watching at 6 minutes in. A $1000 dollar emergency fund is just not enough. We are on Dave Ramsey’s baby step 2 and almost done with it. We had $2500 saved because we knew 1000 wasn’t enough. $1000 wouldn’t even cover our mortgage and we have a 15 year loan on 25% of our income. I think it was rough hearing you say, “why didn’t you have enough money saved,” when the Dave Ramsey plan on baby step 2 definitely would leave most people unprepared.
We're in a DEPRESSION!! Watch Lynette Zang, Gerald Celente, Gregory Mannarino, and The Ice Age Farmer to get your facts. Food shortages are around the corner.
All amer.should be elgible.
Debt debt debt
Lets see things from two perspectives
Money seating in our bank account doesn’t help if we have a small house like yours when someone in our family is sick, and all this time trying to save more and more and at the end is better to have a bigger house with less money in the bank account.
No money save and full of debt is not good when someone lost their job and not being able to paid rent or mortgage.
So a balance is a better fact when we talk about money. 🤷🏻♀️
I hope this teaches everyone the importance of vaccinations!!!!!!
Yes Amen!!
No way. It's a flu virus, honey. It mutates constantly. You think we should get vaccinated every season for the newest edition of flu virus??? That also doesn't work now! People still get the flu all the time. If you decide for yourself that you trust the sick-people-system (what they call "health care") pls go ahead and get vaccinated. For me this is NO OPTION. If they try to vaccinate me, they have to catch me first. I mean that.
@@bargerver8796 yes everyone should get the flu shot every year. I am in the medical field and you can run but you can’t hide. Personally I value my life.
@Elizabeth Libero
Then you should get vaccinated if that is your personal decision and you do it according to your beliefs. I'm sure that you mean well but you're probably as brain washed as anyone in the medical industry. I trust nature - not people because people are wrong most of the time. Vaccinations are out of the question for me. And it's my constitutional right to say no to vaccinations.
@@bargerver8796 you can see where unvaccinated make others sick. It’s not just you it’s others you may be literally killing.
I'm in this strange position where I don't need money, as comical as they may sound. I have my 6-months emergency fund in place so what I've done with the excess money every month is invest it. Obviously, I lost my lunch in February like everybody else did but now I'm wondering what I should do with this $1,200 I don't need. I've continued buying stock here and there but not as aggressively and it's mostly paid off since the market has been going up little by little. Should I throw the entire $1,200 at the stock market or keep buying a little at a time? I have absolutely no plans for this money and intend to keep investing it for years and years; I figure it's better invested than sitting in a savings account doing nothing.
Then give it someone that had to give up their small business because of this bullshit. It will help them start new.
No judgement. Personally I plan to use it to support the local economy, mainly small businesses and such. They really need our support now with all of the lay-offs and decline in the restaurant business.
Only me hubby we be ok hardest part c a nt go out but we r in our sixties we been thru a lot we be ok can't find toliet p a per my son's dropp e d some on our porch we will have very cle a n house lol luckily we r in town house me hubby g e t to have our own space my hardest thing we watched our two four ye a r old grandsons three d a y we or more now we only get to see them on phone so har d makes me sad but it's for all of our health my son v a me by yesterd a y he's dad of gr and son's he s t old outside we s e n t boys toys movie we sanitized them they were new
What is all this unnecessary information? Just tell us what we need to know. At some point she starts talking about Ann Frank. What?