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Likely Rebate Check Purchases: PCs, TVs and Cellphones

Kim Hart

What do you plan to do with the tax rebate check from the government? According to the Economic Stimulus Act of 2008, most individuals will receive $600, with the average household receiving around $965 when the checks start getting mailed out in May.

Of the $112 billion going to U.S. households, about $5 billion will be spent on some type of consumer electronics products, according to a survey released last week by the Consumer Electronics Association, which is based in Arlington. CEA estimates 19 percent of households will spend a portion of their rebate checks on consumer electronics, especially computers, televisions and mobile phones. Not surprisingly, people between 18 and 29 years of age are more likely to spend some of their check on a new gadget.

Using the check to make purchases is exactly the point of the stimulus package--to pump money back into the economy to drive new growth. And at a time when a lot of Americans are feeling the pinch, the check will be a welcome relief.

The survey also showed that a much larger percentage of people intend to put the checks toward savings or other investments, or towards paying bills or debt. About 16 percent of the money is likely to go toward necessities like food. About 6.7 percent is likely to go toward traveling or going on vacation.

How do you plan to spend your check?

By Kim Hart  |  March 17, 2008; 4:16 PM ET  | Category:  Kim Hart
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Comments

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I'm using mine to buy some french doors for my house and the rest is going into my high interest ING savings account.

Posted by: Anonymous | March 17, 2008 5:22 PM

I plan to buy 150 shares of BSC

Posted by: nonsense | March 18, 2008 1:53 AM

I plan to put mine in a savings account so that I can save up money for when this recession gets worse.

Posted by: jsc | March 18, 2008 6:36 AM

a mere pittance compared to dubya's give aways to the rich...

Posted by: Anonymous | March 18, 2008 8:16 AM

I'm going to fill up my car with gas.

Posted by: Anonymous | March 18, 2008 8:50 AM

To the savings account of the kids, this is money that this administration has borrowed on their behalf from China.

Posted by: Anonymous | March 18, 2008 9:58 AM

A new pair of shoes. It looks like we may be walking more because of the high gas prices.

Posted by: Jim | March 18, 2008 10:01 AM

I plan to make a small addition to my holdings in Lukoil, so I can profit from the death of the dollar, and the windfall oil profits to come without paying the proposed Dummycrat's windfall oil profits tax.....I have already fired the maid service and the lawn boys...

Posted by: Silver Dog | March 18, 2008 10:14 AM

I plan to put it in my EmigrantDirect savings account. I want every dollar to earn every dollar it can in this low-interest environment.

Posted by: Chris L. | March 18, 2008 10:35 AM

student loans! student loans!

(yes, I know I'm supposed to blow it in the name of stimulating the economy. if I do that, and I get into debt trouble, is the government gonna bail me out even though I'm not a fat Wall Street cat?)

Posted by: Gonzo, MD | March 18, 2008 10:57 AM

I plan on using the money to send my grandkids to college if they want to go.
I know that College is very expensive and the money will come in handy.

Posted by: cc | March 18, 2008 11:06 AM

I think the intent of this stimulis package as stated in sentence 1 of paragraph 3; "Using the check to make purchases is exactly the point of the stimulus package--to pump money back into the economy to drive new growth." is not going to be the result. I think the result will be sentence 1 of paragraph 4; "The survey also showed that a much larger percentage of people intend to put the checks toward savings or other investments, or towards paying bills or debt.", specifically the last part of that sentence; "...paying bills or debt."

This isn't going to help consumers, nor is it going to "...pump money back into the economy to drive new growth." The biggest benefactors of this stimulis package are going to be Credit Card Companies and other lending institutions. In fact, this will be nothing but creamy frosting on their sweet chocolate cake. Cake that's made of recent arbitrary increases of APR's and fees for the "privilege" of being a customer of theirs.

Posted by: DKAnderson77 | March 18, 2008 11:17 AM

On something "Made in China"

Posted by: mediajunky | March 18, 2008 11:24 AM

I had a baby by C-Section just a few weeks ago. That refund is already spent!!! Nice to know I helped pad the economy in the process, though.

Posted by: Stimulating Spending?! | March 18, 2008 11:27 AM

I wish that we got a refund!!!

Posted by: Portland, OR | March 18, 2008 11:50 AM

at first i was going to fill my gas tank, but i think i'll buy seeds instead so that i can grow my own food, and if there is anything left over, maybe i'll buy some canning jars so i can put some of my home-grown up!

Posted by: warsaw, va | March 18, 2008 12:30 PM

You must be kidding! I, as will most of the people I know will be trying to pay some utility bills or pay for gas or some dumb idea like reducing debt.
Only the people that our government thinks are the stupid will be buying the products provided by another country at the expense of their jobs and bank accounts and the food on their table. What does the press not understand about the need to sustain the lives we are responsible for, wife, children and so on?
For you to put forward the idea of people that are going broke to buy a cell phone or video game is irresponsible just as lying to go to war was irresponsible and the constant loop of someone that is fading from the public consience over his hatred and inflamitory speech is irresponsible.
Quit the stirring of the constant excretement, please.

Posted by: mark musselman | March 18, 2008 12:54 PM

I'm going to use mine to build a fortified bunker so I am prepared for when our economy collapses and we are all waiting for the apocalypse caused by Bush until a Democrat comes along to save us al....

Oh wait, I am going to stop blaming everything on the president, not wait for the country to collapse, continue to go to work, pay my bills, take care of my family and live my life...

Posted by: Fredericksburg, VA | March 18, 2008 12:59 PM

Savings.

Posted by: Anonymous | March 18, 2008 1:01 PM

I'm going to pay off the remaining balance on my credit card.

Posted by: Mike | March 18, 2008 1:40 PM

Call up the Emperor's Club and make an appointment.

Posted by: Maggots | March 18, 2008 2:15 PM

I'm planning on buying a DSLR camera, if I can get a good deal.

Posted by: Anonymous | March 18, 2008 4:09 PM

I'm planning on buying a DSLR camera, if I can get a good deal.

Posted by: Anonymous | March 18, 2008 4:09 PM

I would save it if I was getting one. Sadly I make just enough to not get a dime. I am glad I am not getting any because next year at tax time, I won't lose that amount that I would have gotten in May.

Posted by: Tia | March 18, 2008 4:53 PM

I'll be putting it towards my tax bill thus making my capital gains tax less...

Posted by: Redstorm | March 18, 2008 5:14 PM

I'm going to buy a plane ticket to europe to get a job, save those euros and live like a king when i get back. Just another witty comment

Posted by: Hank | March 19, 2008 12:25 AM

I'm going to Florida for a long weekend to see my sister and relax in the land of sun and fun.

Posted by: CalvertAdam | March 20, 2008 7:39 PM

I am using mine to buy a blu-ray machine

Posted by: tyrone power | March 21, 2008 2:29 PM

I am using mine to buy a blu-ray machine

Posted by: tyrone power | March 21, 2008 2:29 PM

I am using mine to buy a blu-ray machine

Posted by: tyrone power | March 21, 2008 2:29 PM

I am going to use my rebate check, provided I get one that is, to buy a new hdtv. I don't want to buy a new t.v. but guess I will have too. I am also more importantly replacing my vcrs with dvd recorders if they are available since I don't usually care for what is on t.v. on certain days I record movies or something else to watch. I bet though that that will cost more than any $600.00 though. So credit card here I come.

Posted by: Hedgeclippers | April 1, 2008 4:03 PM

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