Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Consumer
Five rebate spending tips for tax first-timers
MADISON, Wis. (2/20/08)--It’s official: President Bush approved legislation last week that will deliver tax rebates to U.S taxpayers who have filed for the 2007 tax year, and checks will be mailed in late May (Associated Press Feb. 13). For many young adults, this will be the first time they receive any kind of check from the U.S. government. And young adults filing their first-ever tax return may be getting both a tax rebate and a tax refund. Faced with the potential for a substantial windfall, what are some of the best ways young adults can put Uncle Sam’s check to use?
* Pedal power. Spring is around the corner, and the environment is a major concern. Consider purchasing a new bike, particularly if you live in an area where you can commute to school or work with your new wheels (MotleyFool.com Jan. 28). You’ll save money on gas, get exercise and reduce your carbon footprint. Don’t forget your helmet. * Help others. Feeling charitable? Consider donating a portion or all of your new money to a worthy cause. Current economic woes affect charities as well as businesses and consumers (MarketWatch.com Feb. 4). Giving to your favorite cause will help others and make you feel warm and fuzzy. A side benefit is that your charitable donation may be tax deductible, which will help if you itemize on your 2008 tax return. * Invest in yourself. Place your refund or rebate check in a savings account, share/certificate of deposit, Roth IRA or other investment vehicle. Whether it’s a rainy day fund or a start on a down payment for your first home, your credit union can help. * Act locally. Purchase goods and services within your community. Hire a local painter to fix that failed weekend project in your condo, dine out at a locally owned restaurant, or head down to the local electronics store instead of a large retailer to grab that new video game you’ve been eyeing. This multiplies the economic impact your dollars have in stimulating the local economy, and in turn boosts the national economy (ToledoBlade.com Feb. 9). * Knock down debt. It may not be the most exciting option, but it will help you pay off credit cards, student loans, and other forms of debt, putting you in a better position to make big purchases in the future.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
3 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
3 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
6 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
7 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
8 hours ago
150x172_Sign up for election newsUnite for Good Share your Stories100 Million CU Memberships