How to spend your tax rebate

[Toby'sFriend]

Any idea when the checks will go out?

CNN article I read last night said June at the earliest.

 

[mom2my3kids]

The whole idea is to spend it to get the economy better, we will buy a couple things and then spend the rest at disney world..

 

[mom2my3kids]

Any idea when the checks will go out?

I plan to be one of three things with the check.

A. Be a responsible adult - use it towards my son's tuition that way I'll be a month ahead or use it toward a SAT prep class next fall.

B. Have fun - use it toward our DL/DCL/WDW trip next summer.


B. Have fun - use it toward our DL/DCL/WDW trip next summer.

C. Be a responsible adult- Save it

I SAY.........B

 

[gomomgo]

They were talking last night on a show about past rebates. They said those at the higher income levels save it and those at the lower income levels spend it. That may be why they have a cap on who gets it.

I heard the same thing this morning. I wonder if catching up on bills is considered "spending." Or are they just talking about the purchase of new items?

 

[lovemygoofy]

I'm doing the unAmerican unpatriotic thing by putting it in a high interest savings acct. Knowing my luck, next year I'll have to pay this "rebate" back because of the weird taxes during a deployment.

 

[mickeyfan2]

I heard the same thing this morning. I wonder if catching up on bills is considered "spending." Or are they just talking about the purchase of new items?

I understood it to be new items.

 

[Lisa_M]

If I don't have a permanent job by then I will be saving it and paying bills with it. If I do, I will be putting it towards one of our student loans. There will be no vacation or Wii's or anything leisurely for us with that money...

 

[Green Tea]

I don't believe I will be getting any check anyway. If I did I would send it to ING for some later vacation.

 

[lailah]

Question here...Because we have no small children living in our household, we didn't get that child tax credit in 2001. I've been trying to read about this one and couldn't figure out if this was for households with children or for everybody who is within the $ bracket.

 

[doulacandice]

Some of our tax refund is going to Disney vacation.. The 1800.00 or so we should be getting back some time in the future will probably go on a downpayment towards a new car/Suv.

 

[luv2nascar]

depending on status of emergency fund it will either go in there or down on a credit card. Thanks.

 

[TiggerStac]

It'll go toward paying down debt - or it'll go towards paying budget items (food, gas etc.) and then the money I had budgeted for those will go to paying the debt LOL either way it'll help the economy. (which I don't buy into the sky is falling thing but it's a hypothetical question at this point anyhow right? If I did believe the economy was as bad as the media said I certainly wouldn't be on a Disney site planning vacations )

$1600 would pay off an entire loan for us and move us down the snowball list

same here....pay off another piece of debt.

 

[mamalle]

when would this come out if its voted on to go through? is it after you submit your 2007 taxes?

 

[Toby'sFriend]

Question here...Because we have no small children living in our household, we didn't get that child tax credit in 2001. I've been trying to read about this one and couldn't figure out if this was for households with children or for everybody who is within the $ bracket.

The plan the President released for discussion yesterday is eliminating the 10% tax bracket. Which means that everybody who pays taxes through the 10% and above tax brackets would get some money back.

People who don't pay taxes, will receive nothing.

As discussed, the IRS is estimating that the earliest they could print the checks if the plan were approved right now would be June.

 

[pandora174]

If we get $1600 for our family. Half will go to savings. The rest will go to soccer & swim classes for my DS who has developemntal delays so this would really be helpful to us. The balance I would stock up on groceries, specially meat & things I can freeze, & my DH car has an oil leak we haven't been able to fix. So we're putting $ back in the economy, doing things we need for the family & still saving ! I hope it does happen

 

[Belle1962]

I thought that meant it is discussions on how we budget for the trip. If I am mistaken than I am sorry.

Belle1962, Every time we make a transaction in our economy, it will benefit the economy. Even buying foreign goods helps our service sector. Buying American goods helps both our service and manufacturing sectors. I know it is a struggle, but we as consumers are responsible to search for the goods made domestically, if we want to change the way things are going.

I'll get off my soapbox now.

Don't think of it as a soapbox. I (and I am proud to say my son also) drive ONLY American made vehicles (GM as matter of fact). We try to buy American but it has gotten harder through the years.

 

[SpaceRangerEric]

The intent is for people to spend it on new items, not to retire debt. I completely understand some people have tougher situations. That was me a few years back. I am just hoping that everyone, who can afford to spend it, does spend it.

I can proudly say my soapbox is Made in the USA!!

 

[pandora174]

The plan the President released for discussion yesterday is eliminating the 10% tax bracket. Which means that everybody who pays taxes through the 10% and above tax brackets would get some money back.

People who don't pay taxes, will receive nothing.

As discussed, the IRS is estimating that the earliest they could print the checks if the plan were approved right now would be June.

Do you think my DB who is disabled & received SSI benfits & files every year but only makes about $7K so he pays no taxes would not qualify ? He could use that $ for so many essentials that he can't afford now.

 

[Braque]

So, here's my plan for tax return rebate, should it be as much as I hope it is:

1. We need a new computer; and if there's anything left -
2. Send in an additional monthly mortgage payment; and if there's anything left after that -
3. Send it to ING for a Summer 2009 Disney trip -

all spent . . . that was easy

 

[seanandkaitsmom]

We are going to WDW in June, if the rebate is here it will all go to "uncle Walt". If not it will be spent on something fun for the family!!! Maybe a big swingset!!!