Be Careful With That Tax Rebate Check
What will you be doing with your tax rebate check? Retailers are hoping you’ll be spending it at their stores. Many retailers are planning incentives to get shoppers to bring their checks to their registers to spend. For example, Sears is offering potential shoppers what they hope will be an offer to good to pass up…bring the retailer your tax rebate, and Sears will give you a gift card for the amount of your check plus 10%.
But I say think carefully before opting to accept on of these type of incentives! First, consider that if you take up Sears, for example, on their deal, you are now committed to spending your whole rebate there. This is really only a good deal if you had previously planned to make a purchase(s) there anyway. If you do plan to make a purchase of some particular item with your tax check, then by all means it could be wise to check out all the incentives offered by various retailers, and see where the best deal will be for that purchase.
And secondly, take some time to really think about spending your rebate check at all. This is money that you probably were not expecting, and it could be a great way to get a savings plan going, or boost a sagging savings account you already have. Look down the line six months and ask yourself, would I rather have saved that money or will I be happy with that new refrigerator? Retailers will be trying hard to get you to spend your money at their stores, but do take time to rationalize and make the best decision for you.
And lastly, look at your debt scenario. Should you really spend that money, or should you use at least part of it to pay down some debt, and save the rest? This could be a chance to make some headway with credit card debt and improve your credit score. Think carefully about how this tax rebate can best help you out financially.
Maybe you should avoid all newspaper ads for a week or so after you get your tax rebate and steer clear of temptation, until you have decided what to do with your money!
Comments
Got something to say?