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To spend or to save…

Saturday 25 April 2009

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With the $900 cash bonus courtesy of Kevin Rudd due to hit your account anytime soon (if it hasn’t already) the big question looms – to spend or to save?

While the International Monetary Fund’s Chief Economist Olivier Blanchard says the cash bonus can only help boost the economy if we spend it, it can be hard to justify a big cash splash if you have debt that could really use some attention.

It seems that everyone has a view on what to do with it when we get it and as to whether we should be receiving the cash at all. In Moneygirl’s article of the week, Katharine Murphy from The Age writes about the public uncertainty around the benefits of the handouts.

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3 Comments

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Nicola
30 Apr 2009 at 10:12 pm

I’m going 50/50. Half on the mortgage, half on a holiday!

lari
4 May 2009 at 10:51 am

same – it’s the equivalent of having one for yourself and one for the country

Justine Bateman
11 Jul 2009 at 8:22 pm

Short viewed policy. Wish I was selling $900 plasma tvs. Bit like the insulation bonus. Great for the insulation industry. No good, for, solar, wind, etc, for six months. A not greatly directed decision, but I’ll take advantage if I can. Good to see some money from the government going to some people who can’t afford to have children or buy a house. Must say though, it is difficult and complex to access this money if you are not an owner. Supposedly it is available for tenants, but each government approved supplier cuts you off on their online quote service if you are not the owner.

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