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Today, 50 million Americans are expected to receive coronavirus stimulus checks. If you have bank account information on file with the IRS from a previous direct deposit, you’ll be in the first two groups to receive your money.
You can see the income qualifications here. Families with married couples filing joint returns who make up to $150k per year will get $1200 per adult and $500 per child under age 17.
Obviously, for those people who have lost their jobs, that money will go towards essential food and housing costs. But how will everyone else spend it?
Travel Splurges
For the readers of this blog who don’t need to use that money for food and housing, I’m willing to bet that a large portion are thinking about putting it towards travel. Even though most of us use miles and points to offset the big expenses, travel still involves other costs. Airport parking, pet sitting, excursions…those all add up.
A big check like this could also be used for a trip that is harder to fully offset with miles and points. A cruise, staying on-site at Disney World, Disney park tickets, a fabulous airbnb rental….
…Or Other Things
My family likely won’t spend any stimulus money on travel. Shocking, right? The reason is that so many of our trips from this year are being pushed to next year, and they are starting to stack up. At this point, I can’t really plan any new trips until 2022 due to all of our trip moves.
We plan to hold onto any money we receive for a few months in case my husband’s job is in jeopardy. Once we feel like we’re on more stable ground, we’re planning to do a home improvement project. Being cooped up in our house has really made us long for a bigger back patio space.
Do you plan to use stimulus money for future travel?
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Author: Nancy
Nancy lives near Dallas, Texas, with her husband and three kids. Her favorite vacations include the beach, cruising and everything Disney.
I’m fortunate enough to still be working. I’m giving my $$ to those i know out of work. (the lady that used to cut my hair, my out of work brother-in-law, etc.)
Awesome, Patrick! I’m sure they appreciate you.
I’d sure spend it on travel if I was getting any of that sweet cash.
@Jason Yes!!!!! That’s where all my “extra” money goes.
It’s difficult to plan travel not knowing at what pace countries and markets will reopen. A trip to Florida in September might sound nice but that assumes restaurants and attractions would have health related policies that wouldn’t ruin the vacation. International travel assumes borders are open and the chance that a resurgence of the virus is minimal. In terms of risk versus reward, I think the scale at the moment leans heavily towards risk and uncertainty. If you’ve found deep discounts and generous cancellation policies go ahead and pay but be prepared to forego the trip when circumstances beyond your control stack up against you. Getting a stimulus check doesn’t change anything.
@Ed I agree. But I suspect some families would book a Disney trip for next year or a cruise for next summer. If I had never been to Disney World and wanted to go, I totally would book that trip with the money.
Won’t be getting any stimulus checks, but hope to get a few EIDL payments and PPP payout. People who really need stimulus checks should smartly be using it for necessities, but we know that’s usually the case. If it’s anything like Katrina, Stores will be sold out of LCD tvs pretty soon and neighborhood liquor stores will be doing really well.
I booked a couple of Qatar business class flights to South Africa and Ukraine later in the year mainly to keep my AA ex plat status. But if AA extends and restrictions are still in place, there’s really no reason to go.
@Hal I’m betting there will be a lot of online shopping today. I hope your trips are a go for later in the year!
@ JB SanDiego — Your tour will be cancelled.
I don’t think I will be getting a stimulus check, but in any event my plans for this year all depends on my Rick Steve Europe tour. Last year, I booked an Eastern Europe tour starting on June 14. On Monday April 13, I should know my fate if the tour doesn’t get cancelled. So far, all RS tours have been cancelled up until May 31. If the tour is cancel, then my travel plans will get pushed to June 2021.
Waiting very patiently to see what happens.
@JB Oh man, I hope your tour goes! If not, there’s always next summer, right? 🙂