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Spending some of recession stimulius package tax rebate money

May 27th, 2008 | Posted in Personal Finance, Spending

I once said that I would either save the tax rebate money from the government stimulus package, but recently I changed my mind. Well, my wife helped me with this decision, but probably needed to do this. As you all know by now the government recently passed a bill that gives most Americans $600 in the form of a tax rebate. This money is supposed to be used on a good or service in order to help stimulate the economy and avoid a recession.

Many of you already agree that we are in a recession and the money is going to come a little too late to avoid predicted recession. A lot of people said they wouldn’t spend the money on a new good or service anyway, the money would be used to pay off some debt or put away for a rainy day. I was one of those people a month ago but recently decided to spend some of it on a durable good.

Our kitchen table recently went from 4 chairs to 3 chairs as one was broken by accident by my brother-in-law. Actually, since we just had a baby and will soon be pulling a high chair up to the table it seems logical to me to keep the table because that chair will have to be moved anyway to make room for the high chair. My wife however disagrees, she thinks it’s a perfect opportunity to purchase a new kitchen table that better matches the rest of the furniture in the house…

After some discussion we’ve decided to spend some of the money on a new table and chairs for the kitchen and try to sell the one we have to get back some of the lost cash. Anyone looking for a slightly used three chaired table?

The rest of our money will be used to finish paying off one of our cars, freeing up $400 per month. This comes just in time to help pay the new daycare bill for the new addition to the family. Oh well, at least we have the money with little sacrafice.

What do you plan to do with your recession stimulius package tax rebate money?

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