A good number of people expected a second stimulus check by Christmas, and many others held out hope for another stimulus check by the end of the year. Well, with the year winding down it looks like the chances of getting another stimulus check are zilch. And the stimulus package pitched by the incoming Obama administration looks less like a tax stimulus package and more like increased federal spending on infrastructure projects–great for our interstate system, but not so great for those looking forward to an economic stimulus check.
We The People, Without A Bailout
Since it appears we can give up on the idea the government will bail us out, even though they have bailed out numerous industries, I say it is time to bail ourselves out. Yes, it is possible even in rough times. I frequently get asked how it is possible to save money when you are not even earning enough to cover expenses. Well, that’s a good question. And with rising prices and falling wages, it only gets tougher.
However, at some point we all need to give our financial picture an honest assessment. Have we really cut out every single thing possible? Are we really maximizing every single earning opportunity available? Chances are we are not, because to cut deeper or earn more requires making some extremely tough sacrifices.
No one likes the idea of living without cable television or cell phones, or working a 40-hour a week job and then picking up night and weekend work. But the hard truth is that is often exactly what it is required to claw your way through a financial turnaround. I know because we have had to do those same things.
I won’t lie to you; it was hard work and it hurt to be away from my kids while I was working two jobs and going to school at night. But we scraped and we sacrificed for a short time to get things under control so that we can enjoy the rest of our lives without financial worry. We’re not quite there, but we are on the right path.
How To Create Your Own Stimulus Check
So rather than sitting around complaining about the government not bailing us out, or giving us yet another stimulus check, we have decided to create our own. The last stimulus check was for $600 per individual. That’s $50 per month, or roughly $25 per paycheck, or $12.50 per week. Most people can easily spend $12.50 eating junk food in a week, or buying cups of coffee in the mornings on the way to work, or playing the lottery. By simply eliminating those activities you can come up with $600 per year to add to your savings account.
The current federal minimum wage is $6.55 per hour. To generate $50 per month one would only need to work about 10 hours (allowing for taxes). That’s 2.5 hours per week. Could you work an extra couple hours a week at your current job? If not, could you pick up a part time job a couple nights a week, or work one full Saturday a month selling newspapers? Sure you could, if you really wanted to. I know people who have worked much harder, and overcome much more difficult circumstances to become successful. So instead of blaming the government for not cutting another check, or bailing you out, I encourage you to join me in a plan to rescue my own household finances.