Stimulus Check Payment Amounts - What You Need To Know

By now most people know that Pres. Bush's economic stimulus checks are soon to be on their way. But, when -- and more importantly how much?

I did a little research on the IRS website today and it says that checks are being mailed by the final two digits of their social security number in waves. Checks will first be mailed May 2nd and the chart below shows when you can expect to receive your check.

DIRECT DEPOSIT
Last two SSN digits
Payment will be transmitted:

00 through 20
May 2

21 through 75
May 9

76 through 99
May 16

PAPER CHECK
Last two SSN digits:
Payments will be mailed by:

00 through 09
May 16

10 through 18
May 23

19 through 25
May 30

26 through 38
June 6

39 through 51
June 13

52 through 63
June 20

64 through 75
June 27

76 through 87
July 4

88 through 99
July 11

The full chart can be found here. It should be noted that the IRS also says that people who filed late will receive their stimulus check approximately two weeks after their scheduled payment date.

If you have your 2007 1040 printed and handy, you can head over to the IRS Economic Stimulus Payment Calculator to determine how much you will be receiving. Generally, the checks will be $300 for individuals and $600 for married couples jointly filing, but this can be complicated when dependents are thrown into the mix.

Bigger Monitors = Greater Productivity

File this as one of those things that seems counterintuitive at first, but make sense after thinking things through. Researchers at the University of Utah have determined* that office workers that use larger monitors are more productive. The gains seem to increase as monitor sizes gets larger -- tapping out at 24 inches. What do you think? Do you find yourself more productive when you are working at a larger workstation. I don't find myself particularly less productive when working on my laptop, but could see how a larger monitor could lead to less fatigue when working in front of the screen all day.

*It is important to note that the University of Utah study was funded by monitor maker NEC.

Image by sw_wetmonkey @ Flickr

Full Story @ WSJ Business Tech Blog.

Fidelity mySmart Cash v. Schwab High Yield Checking

I'm currently debating moving my primary checking account - the two alternatives I am deciding between are the Schwab High Yield Checking and the Fidelity mySmart Cash account. While I'm not sure which account I'm going to go with yet, I decided to post the pros and cons (as I see them) of each for other people who may be unhappy with their current checking options.

Schwab High Yield Checking

The Schwab High Yield Checking is a relatively new offering from Schwab. The account is basically a standard FDIC insured free checking account, but offers more perks than your average local bank. The account offers no fees, zero minimum balance, ATM fee refunds, a variable APY now hovering around 3.01%, free checks, a free check card, and a free brokerage account.

Fidelity mySmart Cash

The Fidelity myCash account is similarly a fairly new offering from Fidelity. mySmart Cash is a cash management account that operates as a quasi-checking account. A client opens a mySmart cash account and links it to a current Fidelity offering (like a money market fund). The mySmart cash account has no minimum balance requirement, no fees, ATM fee reimbursement, free checks, and free self-funded overdraft protection. The client is free to withdraw funds at an ATM or write a check on the account regardless of the balance, Fidelity will then move the appropriate amount from the designated account to cover the balance if the mySmart cash accounthas insufficient funds.

Comparison

Outside of a few minor differences the offerings from Fidelity and Schwab are pretty similar. However, there are a few relatively major differences that may contribute to the decision for some people. First, Schwab currently offers a higher APY on its checking account. However, this is probably offset by the fact that the mySmart cash account can be set to automatically draw from a higher yielding account (like a money market or mutual fund). A second difference is that the Schwab account comes standard with a free brokerage account. If you aren't already set up with a brokerage account then this may be an advantage to you - especially since the brokerage account has no minimum balance or opening amount. Below I have made a quick chart to show the features of both accounts, you'll see that they are pretty similar. I have a feeling that for most people the decision to chose one of these accounts would be based on whether they currently have a Fidelity or Schwab holdings already.


Do you find either of these accounts compelling? Do you already have one? Let us know how you like it.

Link: Schwab High Yield Checking

Link: Fidelity mySmart Cash