A Blog About My Life’s Lessons

The hot topic these days is the tax rebates from the US government.  From what I can tell, it is officially going to happen (pending signatures early next week).  While I was doing my research to figure out how much I was going to get, I came across this article on cnn.com.  This article answered all of my questions:

How big will my check be?  Well, I’m married with a combined AGI income of <$150k, plus we have one child.  So my check will be $1200 for me and my wife, plus an additional $300 for my daughter.  For a grand total of $1500! 

When will I get my check? The checks will start hitting mailboxes in early May and continue through June.  There is one gotcha, the checks will only be sent to those people that file their taxes by the April 14th deadline.

As much as I’m going to enjoy the extra $1500, I’m not totally on board with this “tax rebate”. Especially considering we are giving it out to people that paid zero taxes last year.  Another thing I’m struggling with is what to do with the money.  Should we spend it completely (like the government intends us to do) [I have had my eye on a Nintendo Wii] or should I try to payoff debts, or save some of it.  What are your thoughts?