Stimulus Checks: Tax Refund
Economic stimulus payments will begin making their way into 130 million American households from May. To be eligible, you must have filed a 2007 Federal tax return. You can choose to receive your stimulus payment either by check or direct deposit.
This year, the IRS is encouraging people to receive their payments by direct deposit. The advantage to this is that you receive it much earlier; in fact as early as May 2.
People electing check payments will receive those by July 11. People owing on student loans and child support payments will have their rebates garnished.
It has been predicted that a great number of stimulus check recipients will be spending their money on bills and necessities such as food, gas and mortgage payments. Others plan to splurge it on a vacation or car whilst around 18% plan to invest the money.
Stimulus checks are an ideal time to consider an investment strategy rather than just wasting the money. Although it can be seen as 'money for nothing', it is in fact money you have earned yourself, therefore you should treat it as part of your salary.