Excited about the Government's Rebate Checks

I am sure we have all heard about the IRS Stimulus Plan. I bet most of you are excited about it. I know my family and I are excited about receiving ours. In this article I will review the stimulus plan just incase you do not already know about it. Then I will let you know some of the ways that my family and I have chosen to spend it. I am sure I can give you a few ideas about how to spend yours. I will first let you know a little about the IRS stimulus plan.

First off we all want to know who will get rebate checks? 130 million Americans will be getting these rebate checks. According to Bankrate.com if you had any net income tax liability for the 2007 tax year, you will get some money back.

Now how much will you get? According to Bankrate.com individual taxpayers could receive at least $300 and up to $600. Married couples will get up to $1,200. Most individuals who have income of $3,000 but who do not have to file a return will get $300. Some taxpayers with children will receive an additional $300 per child.

Now I will let you know five different ways in which my family is planning on spending our rebate and stimulus checks. First off we have already received our tax check this year and we spent it on our bills. You see will were renting our computer and washer and dryer from Rent-A-Center and we paid them off with our tax rebate check. We are now just waiting on our stimulus check.

We plan on using the rebate check for many different things. The first thing we plan on using it for is the bills that need to be caught up on. Most of our bills are caught up, but not all of them. It just seems that there are way too many bills these days. I am sure you all agree with me. The reason why our bills get behind is because right now I am in college and we are a one-income family. These days it takes a two-income family to survive. Don't get me wrong we are doing really well, but we are living paycheck to paycheck and we all know that is not fun.

The next thing we plan on using our stimulus pay for is our television and my husband's PSP. What I mean here is that we are renting them from Rent-A-Center and we plan on paying them off or at least one of them. The reason why we want to do this is because that will lower our weekly payment about $30. So this is why we want to use part of the check to pay off, more than likely, the PSP.

Another thing we plan on doing with it is taking a small vacation. What I mean by small is that we want to go somewhere close to home, but somewhere where we can be alone. The reason why is because where we live there is always someone knocking on the door or calling. It is usually the phone ringing off the hook and it drives us crazy sometimes. It seems that we never get a day of peace around here. I mean it is just my husband and I that live here. We have two dogs and an iguana, but no kids so we should have at least a little bit of time alone together. This is why we want to spend a little of our money on a getaway.

Another way we plan on spending the money is paying back some of the people we owe. We do not owe a lot of people, but we do owe two or three people because my husband was laid off of work for two weeks. After we pay them back then we will no longer be in debt with them so that will get them off of our backs. There is one other way we plan on spending this money and then after that more than likely it will be gone.

We plan on paying off the credit card balance, which is only $310. After we pay this back then we are going to use the credit card to buy us a laptop that way when I need the computer for schoolwork then my husband can use the computer when he wants to. We just figured it would be so much easier if this were the case.

So as you can see we have many different plans for our stimulus check that is on its way to us starting in May. We cannot wait to get it and I am sure most of you cannot wait to get your wither. I sure hope I gave you all some great examples to use.