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Wednesday, May 13, 2009

How to Spend Your Stimulus Money

The idea behind the Australian Government's stimulus package is to increase the cash spent on Australian products, Australian businesses and in Australian communities. "Buy Local" is the catchcry.

According to the NineMSN Managing Money section:

  • A $900 bonus will be paid to taxpayers with taxable income up to and including $80,000.
  • A $600 bonus will be paid to taxpayers with income exceeding $80,000 to $90,000.
  • A $250 bonus will be paid to taxpayers with income exceeding $90,000 to and including $100,000.

Here are some ways you can spend your stimulus money while supporting the local economy:

Book a holiday within Australia.

This is one of the best ways to support the Australian economy. You will be supporting a number of businesses. If you travel by car, you will be supporting petrol stations, roadhouses and restaurants. And lets not forget pubs. The money from your holiday will go to bed & breakfast owners, motels, hotels, pubs and backpackers. If you travel by rail, you will be supporting the rail workers, ticket collectors, drivers and station masters. If you travel by plane, you will be supporting Australian captains, baggage handlers and stewards.

Photo courtesy MaxEphotos.

Local Restaurants and Pubs

This week I have passed a number of restaurants with empty tables and no activity whatsoever. If you want to help the local economy, go to a restaurant and enjoy your meal, knowing that the money goes towards the restaurant staff, owner and manager. Attend a local pub and have a counter meal. See a local band, thus supporting the live music community. In these times, it is a good idea to go out and let one's hair down once in a while.

The People in Your Neighbourhood

Look around your local main street or shopping precinct. You will find hairdressers, beauty salons, clothing shops, bookshops and cafes. Look in your local yellow pages guides. You will find carpenters, window glazers, mechanics, cleaners, gardeners and painters. Enlist some help around the house and help local businesses in the process.

Make Small Changes

If you look around, you can find amazing local produce to replace the generic items you have been buying up until now. Australian made wines and cheeses, vegetables, eggs and delicacies. The Victoria Market has a great selection, or you could try South Melbourne, Chapel St or the equivalent in your state. Visit your local grocer, have fun finding the best produce from local growers. You will be reducing transport costs (good for the environment) and supporting Australian farmers.

Pay off your credit card

Some commentators scoff at this notion. I have two questions. One, what kind of an economy frowns on paying off debt and saving? Two, how did we get into this crisis in the first place? Irresponsible lending by greedy so-and-sos. Another thing that seems to have eluded the critics, if you spend your stimulus money on credit card debt, the bank gets the money. But then your finances are given more freedom. You can use the money you would have spent on credit card repayments on something nice like a road trip or at least a very large pub crawl.

And for those of you who say you don't want the stimulus money? Please donate to this blog using the paypal button and I will promise to spend it in the local community.

You might also be interested in this offer, it seems that the guys at MyShoppingJobs.com are now paying people to go shopping and giving away a bunch of free stuff as well. The Free E-Guide "Get Your Purchases Free" is now available for download.

1 comment:

Thank you for taking the time to read and comment ! :-)