I am sure you are already pumped up about the large check you are more than likely going to get from the government. You might have even gone shopping mentally for some gadget you have had you eye on. That can be a fatal mistake.

Now, I'm not trying to be a scrooge here, but the plain truth is, I am not really liking this government plan to try to stimulate the economy and pull us away from a possible recession by having you rush out and spend the money at some retail store. Our current President, George Bush said, 'Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less.' In my opinionThe President needs to read The Fair Tax Book by Neal Boortz.

As recently reported in the Wall Street Journal, in December 2007, Americans had $944 BILLION in total revolving debt, most of it on credit cards. Spending with plastic cards has infiltrated every nook and cranny of our American lifestyle. In the past, consumers put only discretionary expenses on credit cards. Currently, most peopleare so short on cash that they use revolving credit cards to pay for necessities like groceries and gas just to make it through the month. That is economic slavery.

The government's idea might appear like it will work, however,but I don't think it is the best idea. I believe a much better idea is to utilize that rebate money to reduce your debt on credit card balances. If you have less debt, you eventually willwill eventually have a bigger bank account to spend on things like groceries and gas. This is about basic survival for families like yours. There is not an economy on the planet that can flourish when families are buried under a mountain of suffocating debt.

Do you already have a plan for what you are going to do with your stimulus tax rebate? I'm supporting the idea of using your rebate to move toward gaining your financial freedom! Here's the best advice I can give you.

Do NOT mentally go shopping and spend the money before it arrives in your mailbox. Instead of doing that, plan out how you can spend the cash to improve your current financial condition.

Use the cash windfall to reduce your credit cardpay off debt. There is no good reason to hurry out and spend the cash on 'stuff' when you can't pay for the stuff that's already sitting on your credit cards as debt. When you are DEBT FREE, you can begin putting money aside to buy that gizmo or gadget you have had your eye on.

If you don't have debt, then invest the money so it will make more money for you. It doesn't take but a few years before that $600 or $1,200 dollars can grow to double or even triple the value at an 8 - 12% return.

Okay, okay. If you can't control yourslef and just have to blow some of the cash on a splurge item, just limit the amount you use by going out for a nice dinner or buying that music CD or book you've been wanting. After that use the rest to pay off debt or invest for your future. The faster you get out of debt, the more often you can spend your income on enjoyable things instead of spending sleepless nights worrying about how you are going to pay off those credit cards and get out of debt.