About That Tax Rebate Check
About That Tax Rebate Check…
You’re getting a tax rebate check! Lucky you! I’m sure you’re already planning how to spend it – who wouldn’t? There are plenty of ways to spend it – and a lot of things you can do in the meantime, while you “patiently” wait for it to arrive.
How Will You Spend It?
How you will use your tax rebate check is up to you. No one can tell you the best way i- though there are voices out there on radio and tv telling you what you should do with it.
Some say to reinvest it back into the economy – also known as “buy stuff.” Those who advocate that method believe that spending the money is what we’re “supposed” to do with it – that spending it is best for the economy. You probably have a list already of things you’ve been wanting to buy. Maybe it’s a big screen television, or a blue-ray disk player. Maybe you’ll spend your tax rebate check on a new digital camera, one that is so small it fits easily into a pocket. If your tax rebate check is substantial, maybe you will spend it taking that long-deserved trip to the Galapagos Islands – better make your reservation!
Many major retailers are more than willing to accommodate tax rebate checks – some even offering more store credit than the tax rebate checks are worth, just to entice you into their store.
Some say to take that tax rebate check and put it right into your investment or savings account. In savings, it can grow and develop into more than it was when you put it in, and you will get more benefit that way. Those who advocate this method point out two facts: You might need the money later, better save it now; and You’ve been fine without it to this point, putting in into savings won’t affect your real life much.
Banks and other investment firms are eager for this – many are offering better than normal prices on their savings accounts and certificates of deposit, to encourage you to put your money with them for a while.
Some say to use that tax rebate check to pay off debts – like student loans or credit card debts. Those who advocate this method point out that this “extra money” can help lower your overall debt by as much as you’ll put in, and that your regular payments will be lower from here on out – a real boon.
As for what you should do with your tax rebate check? That’s entirely up to you. Follow the advice of whichever makes the most sense to you – and, in the meantime, play games with your co-workers to guess when that tax rebate check will come!
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