How to Spend your Stimulus Check

Posted: 04 May 2008 | Categories: Finance, Taxes

Many Americans have already received their economic stimulus check, and millions more are slated to do so in the weeks to come. The question is: how are you going to spend this check? While the government wants you to spend this money “recklessly” you are under no obligation to do so.

Online Tax Return Do Your Taxes Online in Minutes. File Federal & State with Step-by-Step Help
According to recent polls and expert opinions, there are several areas in which Americans are considering spending their economic stimulus check:1. Save, save, save. A large number of people who receive a check will take the money and stock it away for a rainy day. With the economy heading for a recession (if it is not already there) fear is on the rise. By saving this money, people can add a bit more security to their financial situation.

2. Spend it like the government wants you to. There is nothing wrong with spending your check on an item that you have had your eyes on. This can include anything from a new computer to a down payment on a car. If you want to have some fun with your “found money” head to your local mall and spend away!

3. Give it to charity. While this is sure to be the least popular option, it is something to consider if you are unsure of what to do with this extra cash. Before you do this, make sure that you are in the position to do so. After all, if you are in the midst of a financial struggle you would be much better off keeping the money for yourself.

You can use your economic stimulus check in one of the three ways listed above, or in any other way you see fit. And remember, there is no hurry. In other words, you do not have to spend the money the day that you receive it. If you are unsure of how to proceed, save the money until you make a final decision.

original :Online Taxes