The Rebate Debate

The government has high hopes that the economic stimulus package will spur spending. Beginning in May, individuals will receive $600 and married couples $1,200. There is also a $300 per child rebate. After all, having more money  means going out and blowing it all, right?

Not necessarily. In a CNN poll, 41% of respondents said they will use their rebates to pay off bills, and 32% will save their pennies for a rainy day. Only 21% of those polled think spending the money is the answer, while a philanthropic 3% said they would donate the extra money to charity. It’s hard to say, of course, what people will actually do…but there are certainly a lot of ways, both fun and responsible, to use that money. What will you choose? [CNNMoney]