Smart Buys for Stimulus Checks

by Mary Ann Romans | More from this Blogger

25 Apr 2008 11:56 AM

Those Stimulus Checks should be here soon. You know the rebate checks given out to every tax payer that meets a certain income? With our family of two adults and three kids, we are looking forward to the extra money. How about you? Before you run out and spend that money (and hopefully help boost the economy), take a look at the following smart buys for those stimulus checks.

Food

With food prices going rising astronomically (and continuing to rise in the future according to financial analysts), it is a smart buy to invest in food for your family. No matter how high food prices get, you still need food to survive. Consider using the stimulus money to create or pad up a food pantry or the freezer in your home. Stock pile your home with food that will get you through the recession. Staples and canned goods can often last for a long time when stored properly. Pay attention to loss leader sales and use your coupons to buy food when it is at its lowest. Ham and bacon are still good buys, although they will expected go up soon. The same can be said for whole turkey. Butter, milk, flour, cereal and rise are continuing to rise so get a stock of those items in, if you can.

Home Heating

Although with spring here, you may not be thinking of heating your home, you can set the extra money aside for home heating costs for the coming winter. There is no sign that heating oil will do anything but go up in price. See if you can lock in to a low rate now with automatic delivery. Consider investing your stimulus check in propane as an alternative energy source, or hot water storage tanks. Installing new windows or solar panels is a good investment as well.

Debt

Paying down debt, especially credit card debt is a very smart idea for your rebate check. Get rid of those high interest fees that you are paying, and you'll be on your way to having money in the bank. Are you paying 12 percent on your credit card or more? Getting rid of that debt is a high return on your investment.

Mary Ann Romans writes about everything related to saving money in the Frugal Blog, technology in the Computing Blog, and creating a home in the Home Blog. You can read more of her articles by clicking here.

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Learn more about Mary Ann Romans

Mary Ann Romans is a freelance writer, wife and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat.

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