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The average family of four could receive $4,000 between tax refunds and economic stimulus rebate checks this spring. That's quite a windfall!
Officials wants consumers to spend it and boost the economy. But many people are planning to save or pay off their debts with the amount. How are you planning to spend your refund and rebate?
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Is it a problem to save or pay off debt with our tax money given back to us? If you think about it in a different way, saving money in a bank actually boosts the liquidity of the bank. Paying off a debt reduces the amount of money a creditor had tied up and consumers will be able to use the money that made payments on that debt.
Posted by: Jim | March 20, 2008 at 12:03 PM