Poll: Majority to Spend Stimulus Payments

By Keosha Johnson April 2008 - AARP Bulletin Today

 

An AARP Bulletin Today poll indicates that people may do what theyre supposed to do with their upcoming economic stimulus paymentspend it. Of the 1,235 adults surveyed, 61 percent said they plan to spend some or all of their stimulus payment, including 43 percent who plan to use the money for vacations and dining out.

Only 12 percent said they plan to save all of it.

Among the respondents, ages 18 and older, 65 percent said they plan to spend at least some of their payment on personal necessities such as food and clothing, followed by housing expenses (49 percent), energy bills (47 percent) and paying down consumer debt (44 percent). Typical was Carolyn Eldred, 74, of South Dennis, Mass., who said: I just have to pay some serious bills.

The poll, conducted in March, has a margin of error of plus or minus 4.2 percentage points.

Depending on taxpayers earned income, stimulus payments will range from $300 to $600 for individuals and $600 to $1,200 for couples. See our Quick Guide to Rebates or use the IRSs online calculator (www.irs.gov/app/espc/) or contact the IRS at 1-800-829-1040 toll-free.

The Poll

Stimulus Rebates

If you receive a stimulus rebate, do you plan to:*

Age: Under 50 50-plus

Spend all 29% 41%

Spend/save some 57% 41%

Save all 4% 18%

Do you plan to spend at least some of your rebate on: **

Personal necessities 70% 58%

Energy bills 47% 46%

Housing expenses 52% 46%

Vacation/ dining out 45% 41%

Medical needs 36% 40%

Consumer debt 49% 35%

Luxury goods 34% 21%

Tuition 28% 14%

Other 9% 8%

 

* Results for respondents with known plans.

** Asked of respondents who plan to spend all/some of rebate.

Survey of 1,235 respondents age 18 and older conducted by ICR between Feb. 29 and March 9, 2008.