Last week Tuesday was payday at my day job. As I was filing away my pay stub, I noticed something.... my pay check was slightly different than the paycheck I got a few weeks ago. I'm not sure that I would have normally noticed it, especially prior to the whole "Getting $900" business, but since I just changed my tax withholding a little while ago, I'm a little more sensitive to that bottom line. Anyway, I decided to ask the office accountant about it. While I always appreciate at a few more dollars thrown in my direction, I figure it is better to ask now than to have my boss asking me for repayment a few months down the road!
If I had studied my paycheck a little closer and read through all the itemized lines before going to the accountant, I would have spotted the reason myself - it was my "stimulus check." As most people know, we aren't getting an actual check this time, instead we are getting a break on our taxes...
Mine was $20 exactly. I have read that most Americans can expect an average of $13 more in their paycheck, but I don't remember if that was for weekly or biweekly paychecks. If it was for weekly, then I am behind that statistic a bit, as I get paid biweekly. In any case, it looks like I can start expecting a little more in those twice a month paychecks.
I've seen blog posts and whatnot about "What would you do with your stimulus tax break?"implying that people will take that $13 and do something different with it than they would the rest of their paycheck. Personally, I don't see that happening much. If the little $20 or $13 checks or whatever were sent to folks directly every pay period, then people might direct that money to different places. My guess though is that most people will be like me and just put it in their checking account along with the rest of their paycheck.
So, what about you, fellow Americans? Have you seen a change in your paycheck? Are you doing anything special with it?
Photo by: djbones
Monday, April 13, 2009
My Stimulated Paycheck
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7 comments:
I've been getting my extra $13 a couple of weeks now, and this past week I finally opened a new account and have the money directed into that account. I'm calling it my fun fund. That way I won't be tempted to spend it without thinking, and hopefully at the end of the year I'll have enough money to do/buy something fun. Or use it to pay down debt depending how that's going at the end of the year.
I did notice a slight increase in my paycheck, but have just "left it in" the main account. I should do something mor proactive, like apply it to my car loan, or drop the extra into my Efund.....
Yes, I get about $14 every 2 weeks. I am just putting it into my short term savings. It's extra if I run short, and if I don't, I will eventually give it a purpose!
I agree that most people will probably stick it in the checking account with their paychecks and not think twice about it. The girls at work didn't even know that they were getting a little extra money until HR sent out and email. Even then, they didn't sit down to make plans. It's simply a little extra money in the check.
For myself, I increased my 401(k) contribution. It has to be automatic for me or I think I'd fall into the same category as those who are just depositing the extra into their accounts.
I got a raise around the same time the payroll tax cut went into effect, so I'm not sure how much extra I'm getting. I think about $20. I just lumped it in with my raise money, which I put directly into savings. Once our emergency fund is built up, that money will go to my 401k instead.
I got the little boost too and it confused me because supposedly I make too much?? Will I have to give it back come April? I hope not, I'd rather they never put it in in the first place. It happened at the same time I combined finances w/Mr M and totally redid the budget, I have no idea where that extra money is going!
I got an extra $67 this month (I get paid monthly) and so did my husband (same employer). I was wondering where that came from, so I guess now I know. Thanks for helping me figure it out!
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