Rebate Checks: How I Will Spend It

You have probably heard by now that the government is sending out rebate checks to millions of tax payers. Of course this has its list of requirements to go along with it. According to the IRS website, "taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return". People who meet those requirements will be eligible for $600 for individuals $1,200 for married couples and parents will receive $300 for each child. Additionally, there may be other requirements, so you can use the IRS calculator to determine what you may receive.

We have figured that as a married couple with two children, we should receive $1800 back. We have many choices on how we can spend our rebate check. Our options include:

Purchase new tires for our car. This is a very logical choice since it is one thing that will help keep us rolling. The new tires will ensure that my husband is able to get back and forth to work without worrying about a tire blowing out. The tires would last for a year or so. New tires would cost us around $500. Leaving us with $1300 left to spend from our rebate check.

Build an additional bedroom for the children. Another great option, as it would allow the children to spread out and have some much need space and create more organization for each of them. Of course that will help cut down on the headaches of children sharing a room. We have already started this project, so we would need an additional $500 to complete it. Deducting the $500 for this project will leave us with $800 from our rebate check to spend.

Purchase new summer wardrobe. With growing children growing out clothes all the time, this seems like a very logical choice as well. I know my husband and I would like a new outfit or two! I thought it would be wonderful to take $400 and spend it on new shorts, shirts, and shoes for the family. We are a family of 4, so that would mean $100 a piece. We are now left us with just $400 to spend.

Put it toward our children's education. Our children are home schooled. While many items for the school program can be obtained online or at the local library, there are still workbooks, and school supplies that we still need to purchase for them. Since they are still young, I would like to purchase new tablets, colored pencils, crayons, markers, and Hooked on Phonics program for the next year. That would require $150.

Do some grocery shopping. Out of the $1800 rebate check, we just have $250 remaining. I plan to use the remaining balance on groceries. I am sure many plan to stock there pantries full, I'm no different. We all like to eat. Now would be a great time to buy the items that we use most often, or the special treats we would like to have.

So, above is just 5 simple ways we plan to spend our rebate check. All the above are items that we currently need, or will need. I feel this is a great way for our family to spend the rebate checks. I will also make the honest effort to buy American products to keep our money within our economy.