Monday, January 26, 2009

What would you do with $500 or $1000?

The following in taken from CNN.COM/MONEY....It asks a good question....

"Part of President Obama’s stimulus package is a tax credit of $500 for individuals and $1,000 for couples (with some income restrictions). If Congress passes the measure, what will you spend it on?

If you intend to pay off debt, how are you deciding which debt to pay down? If you are saving the money, are you investing it or just putting it in an account?"

So.......If my hubby and I got a $1000 tax credit ( since we are married), it would put into savings. Since both of our credit cards have $0 balances, we are aren't officially homeowners yet, we have no car payments or personal loans; we'll just save it. I do have student loans but it's no incentive to pay extra unless you're paying off the whole amount; so we'll just stick to our regularly scheduled payments.

What would you do with this tax credit?

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