Five ways to make the most of your rebate
1. Pay down debts - this "unexpected" income can be used to reduce credit card debt or other loans you may have.
2. Save it for a "rainy day" - put the money in a savings account or money market fund to be ready in case of a financial emergency.
3. Invest it - letting the money grow for several years, for instance, in a mutual fund, could give you the most bang for your rebate buck.
4. Make a purchase to "upgrade" your life - put the money toward a home improvement or similar investment that has lasting value
5. Treat yourself - if you've been diligent about managing your finances and saving money, this is a chance to reward yourself with a "fun" purchase or maybe a vacation.
-Marcus Ranger can be reached at (310) 954-2552 or by e-mail at email@example.com. This column is provided for informational purposes only. The information is intended to be generic in nature and should not be applied or relied upon in any particular situation without the advice of your tax, legal and/or your financial advisor.
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