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Maximize Your Economic Stimulus Tax Rebate

April 22nd, 2008 at 07:35 am

Everyone wants a piece of your economic stimulus tax refund.

Kroger stores (including King Soopers and City Market) will give you a bonus 10% for turning in your IRS stimulus check for a Kroger gift card... but I understand they'll give the bonus 10% to anyone who writes a personal check for $300, $600, or $1200, too.

Sears, Kmart, LandsEnd, and Fry's grocery stores will all give you a 10% bonus when you turn in your stimulus check with them.

Other companies like Walmart, Apple, and Expedia, are planning promotions designed to appeal to the "like winning the lottery" mentality that some, particularly younger Americans, will consider the rebate.

Consumers really need to spend the stimulus check wisely: is it better to get $300 to $1200 more stuff just because you'll get 10% more for free, or is it wiser to pay this toward a credit card where you're paying 21% interest? Duh!

If you're determined to spend your rebate rather than socking it away in savings or paying off a bill, be smart about it, okay? It does no good to get a 10% bonus at Sears when their regular prices are probably 10% higher than at Walmart anyway.

Consider spending your money online, shopping through a rewards program. You'll get cash back (or points that you can convert into a gift card to spend later), and at many online merchants you won't pay sales tax...which, where I live, saves me almost 10% right there, especially when you can combine the cash back with free shopping promotions or coupon codes.

I review many of these shopping rewards programs on CompareRewards (see my link on the left-hand side of the page). I ALWAYS start my online shopping session with a rewards program. All those 3%'s and 10%'s and 15% cashback rewards add up...so you can, in essence, spend your tax rebate check TWICE!

3 Responses to “Maximize Your Economic Stimulus Tax Rebate”

  1. Broken Arrow Says:

    Hehehe. Well, I guess if you are planning to er... "stimulate the economy", you might as well get it along with the 10% deal.

    Me, I intend to rebel against the system and attempt my own 10% through investing....

  2. Harley Says:

    Maybe I will get a check with the next round in September.

  3. terri77 Says:

    I'm saving it, but I understand why someone would want the 10% bonus cards.

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