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What are you going to do with your tax credit? How can you help the recession get better?

According to the latest reports we are in a recession, we are going to be in a recession or we are now exiting the recession. Who knows?!? I certainly don't. What I do know is that recessions seem to be a mindset. They always have been. At least in my 39 years. The government tells you are poor and you believe it and stop spending. Then the government waits a few years and then tells you that you have all this money (and if you don't they will make it easy for you to get some) so start spending it again. Then the recession is over. (please don't flame me with I don't know what I am talking about comments, I do know that it isn't quite that easy)

Well, whether we are in a recession or not, the government is going to give us all some money with the express instructions to go out and spend it fast to save the economy. WOO HOO!!!! So if you plan on spending it, how do you plan on spending it?

Today over at Inhabitat they posted a quick blurb on a couple of posts over at planet green and I think they are worth a look by all of us. The first is called get recession ready and they give you five easy ways to make some quick changes in your life that will save you money and reduce your impact on the environment.

The Second is about How to spend your tax credit wisely. This one is even more important than the first in my book. You again get five easy ways to spend your tax credit money in a way that will provide the greatest positive impact on your local community. Don't feed that CEO at the top of the Big Box Store empire and feed your neighbor who runs the local corner hardware shop.

Posted by Andrew Stone - EcoBroker® on 02/11/2008 12:27 PM

Comments (11)

recession, tas rebate, green utah real estate, utah homes, salt lake city real estate

11 Comments on What are you going to do with your tax credit? How can you help the recession get better?

FEB

2008

I'm afraid I'm going to do something unexciting and pay off a credit card balance. Just hate throwing away money on interest and fees! My other planned purchase this year is a rainwater collection system for MY yard, so that I can actually water my lawn during the drought.

hhhmmm, I'm gonna spend my money on my normal monthly expenses. Nothing exciting and I do not see how this will stimulate anything, especially the economy. Sean Allen

Fantastic information... especially liked that last link. I am going to invest in switching all my light bulbs over to energy saving bulbs. Not sure what else, if anything. Probably save for mother/daughter vacation! Chris

I have to agree with Sean.... I don't think it's going to help stimulate the economy at all! BUT - I think it's a great idea to spend the money on becoming more efficient! Great Post (your 100th post :)

I think that the check is ridiculous, the limit rise FHA is the best part of the program and the tax cut for big biz is more of what got us here in the first place. I plan on buying a little stock; UniSolar, great R&D. Cutting edge stuff. Maybe that way when I'm really old... I can have at least one good thought about the "W" years.

I especially enjoyed the photo of the line at what appears to be a soup kitchen during the Depression.

Well, if the "economic stimulus" package doesn't work, there may be more than a few Americans in that line.

FEB

2008

Andrew, everyone is waiting excitedly for their "check". However, those of us who manage our money will not spend, but rather save. Those who don't manage their money will shop till they drop at Walmart, thus shoring up the economy of China, and those who are too wealthy to need the check will probably lay it aside and forget about it. This is the biggest crock of crap handed to us by the government, I have ever seen in my 41 adult years! Notice I said "adult" years, for I'm much older than that. It almost makes the lastest "property tax bandaid" handed to us here in Florida pale in comparison!

One more thing Andrew, we are in a recession, whether the government cares to admit it or not!

Hi Andrew - no time to check the link but here is what I would recommend...

Go out and purchase energy star fans and install them. Purchase energy efficient items like window and door strips, replace the batteries in your smoke/co detectors, replace all the bulbs in your house with CFL's. Heck! have an energy audit done! Then....

Purchase some new wine glasses, beer steins or coke glasses and a great bottle or two of your favorite beverage (alcoholic or non) to put the liquids in, plus popcorn, dark organic chocolate or whatever rocks your boat. Then rent enough DVD's to get you through the weekend which will depend on the individuals involved.

OH! by the way if you have young children pay your best babysitter $100 to take them out for the evening and ...

ENJOY YOUR REFUND!!! AFTER ALL! This is not a gift from the govie...you gave it to them in the first place! Use it to Green Your Space and then have some relaxing good times!!!

Great Responses from Everyone! My wife and I are having our first child, so the check is going to green energy efficient upgrades in the babies room and partially to savings (that will piss em off). As for the first child at 39, 40 is the new 20, so I feel like a kid!

Terry, I'm not waiting too excitedly.

Mary, not only did we give it to them in the first place, but it will most likely reduce our rebates the following year! http://articles.moneycentral.msn.com/Taxes/Advice/TheDetailsOnTaxRebates.aspx

From the link above."Remember, this is your money you're getting back, and the rebate checks are basically an advance on your 2009 refund. When similar rebates were sent out in 2001, said tax expert Mark Luscombe, "a lot of people were upset to see their (next) refund reduced."

FEB

2008

I think me and my husband will spend this money on landscaping. Thank you for the link. I liked that article a lot. I agree bout spending money in small local shops. But I do buy books and clothes on-line.

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