May 20, 2008 2:42pm CST
So i have my tax rebate sitting in my bank account burning a little hole. im not sure what to do with it. of course i have bills but its hard to take that free money and pay them. i want to do something with it, spend it, or put in savings, before it disappears on never ending bills..any one have any ideas
• United States
21 May 08
you can tie it up in a CD or use it to start an investment portfolio for some stocks or something. I would recommend one of these options if you have no credit card debt to speak of. If you do have credit card debt, especially high-interest credit card debt, I would probably recommend that you pay that off with the money you have from your tax rebate, because the interest rate on your high interest credit cards will likely cost you more per month in interests charges on the card than investing the money in a CD or stock plan will earn you. Whenever possible, it is usually a good idea to reduce the amount of debt you have. Tax rebates are usually a good way to take a bite out of that total amount.