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A Second Stimulus Check?
Over the past few days we’ve been hearing renewed calls for a second stimulus check. Just yesterday House Speaker Nancy Pelosi said:
We will be proceeding with another stimulus package, and we once again hope we will work in a bipartisan way
It seems that Democrats believe the first tax rebate hasn’t done enough for the economy, so they’re considering sending us another one. President Bush is taking on more of a wait and see approach. He contends that we haven’t yet seen the full effects of the first rebate, and we need to see how that pans out first.
Federal Reserve Chairman Ben S. Bernanke, testified to the Senate Banking Committee yesterday about this as well. He said:
On a second stimulus package, my own sense is that we are still trying to assess the effects of the first round, It appears that it does seem to be helping, but it might be yet a bit more time before we fully understand the extent to which additional stimulus may or may not be needed.
I’m not against getting another check, after all that first one came in mighty handy to pay off some of my wife’s medical bills.
At the same time I don’t think I’ll be getting my hopes up sitting around waiting for another check in the mail. It is an election year after all, and promises of tax cuts, rebates and stimulus checks are a dime a dozen.
So instead of waiting around for my check, and in the spirit of being proactive, here are a few ways to create your own stimulus check!
10 Ways To Create Your Own Stimulus Check
- Get a better insurance rate: Shop around to find a better rate on your health insurance, homeowner’s and auto insurance. Just by switching companies you can end up saving a few hundred dollars a year, to thousands. I know because I switched my insurance providers earlier this year and ended up saving over $1000 a year!
- Sell things online: Find things around the house that you no longer need or use, and sell them online at websites like ebay.com, half.com, craigslist.com and others. I’ve done this on occasion and end up making hundreds of dollars a year. People will buy just about anything on ebay!
- Get a part time job: Find a job where you can work on the weekends, or other odd hours. Get a paper route, work at UPS, or elsewhere. Even if you don’t stick to it for very long, it can be a good way to make a bit of cash.
- Watch how you drive, carpool or walk: Find ways to cut back on driving, like riding in a carpool to work. I do this, and it saves me upwards of $100 a month! Also change the way you drive to cut back on your gas consumption. If you live close to the places you need to go, try walking or riding a bike!
- Cut back on your food spending: In the past couple of months my wife and I have cut back on the amount we spend on dining out, and groceries. Just by doing simple things like packing our own lunches, not eating out more than 1-2 times per week, and using coupons, you can save a ton!
- Cut out unnecessary spending: Cut the cable TV, the huge cell phone bill and the super fast internet! There are always cheaper alternatives to a lot of the services out there. Either cut back on what you’re paying, or cut the services altogether. My wife and I have never paid for cable tv, and we don’t miss it!
- Use a cash rewards credit card to pay your bills: This isn’t something I’d suggest if you’re undisciplined with money. If you are disciplined enough to do it, and pay the card off every month, I’d suggest getting one of the good cash rewards credit cards, and paying your bills with it. Many of the cards will also give you extra cash back for things such as gas and groceries. Compare some of the cash rewards cards here.
- Start a blog (or other online income): Start a blog online and write about a topic that you’re passionate about, or one that you have inside knowledge about. Become an online authority, and place advertising on your site. If you do it right you can make a nice side income doing that. Other ideas for online income include filling out surveys, designing t-shirts for a cafepress.com store, or finding something you’re good at, and offering your services online.
- Pay cash and ask for a discount: This one may seem obvious, but many people don’t do it. If you’re buying something, offer to pay cash, and see if they’ll give you a discount because you’re paying in cash up front. Often you can get a huge discount. If you don’t ask, you’ll never know if you could have had it for less!
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