What Will You Do With Your Economic Stimulus Rebate?
If you’ve been paying attention for the last 4 or 5 months you should already know that the government is sending out rebate checks to everyone who filed their income tax. For students who were claimed as dependents by their parents, sorry but you’re out of luck. But for those who filed separately, its likely that you will be receiving a crisp $600 check in the mail sometime soon. For couples who file jointly, that number doubles to $1200 and you may add an additional $300 for every dependent who is claimed. About 116 million American families will be receiving the economic stimulus rebate in the coming months. So here’s the million (more like billion) dollar question: When that check arrives, what will you do with it?
This economic stimulus plan was announced some time ago and the first checks have just started to be sent out. The plan is intended to address economic worries coming from a long reaching financial crunch created by the mortgage and credit crises. The plan did face opposition from fiscal conservatives when first proposed for fear of ballooning the federal debt. But in the end it was passed without much trouble.
Back to the question: How will you spend your government rebate check? The options are almost endless. Spend. Save. Give. Invest. If you are a lucky college student who is getting a check you may put it back into your education by buying supplies, books, housing or tuition. Ramen is always an option, lots of it. But a word of advice: Don’t throw a party! Invest in something tangible or save it for a rainy day.
Here’s a suggestion: Put the money toward your student loans. That’s what I will do when my check arrives. As for the rest of America, I don’t think being so conservative is on the minds of most. If you are receiving a check in the coming months, what will you do with it? As always leave your feedback in the comments.
This blog supports