Ask anyone: it's so, so nice to receive that $600 tax rebate check. And it's so, so easy to start comparing the $600 to the price tag of whatever random product or service you want most. But a new report indicates consumers may not try to send the money on to small businesses.
Gasoline and food bills are going to receive a fair amount of attention, according to new National Retail Federation findings. People plan to pay down debt, save, invest, and take care of medical bills, as well. It wouldn't be surprising if mortgages also get mixed in.
If your small business doesn't operate in one of those categories, you might be feeling a bit nervous. There's good news, though, as the NRF found, "Consumers still plan to spend about forty percent of their tax rebate checks, sending $42 billion back into the economy . . ." That's not exactly a "careful" amount of money.
At this point, then, it's just a matter of convincing consumers to cut loose a little. Don't be afraid to mention the stimulus checks; Phil Rist, Vice President of Strategy for BIGresearch, stated, "Some retailers are helping customers stretch the value of their rebate check further by tacking on an additional ten percent to gift cards purchased or holding special in-store promotions."
The government already took care of the hard part. Just try to keep the money moving.
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Comments
Rebate Checks
Just a warning about those checks. If you expect to get at least $600, you may be in for a disappointment, as this depends on your last year's earnings. And -- you guessed it -- those earning under a certain amount only get $300, not $600.
Also, for those with dependents over 18 (i.e., college students, otherwise known as the most expensive dependents of all), they are not considered: only those with dependents UNDER 18 will get anything for them. Period.
How do I know? I got my check... it barely paid my food bill this week.
Rebate Checks
Well, actually it's 16 and under that are eligible for the rebate; if they are 17 when you filed your taxes you won't get anything for them. I found this out since I have a 17 daughter. With all the expenses of having a child in the 12th grade the $300.00 would have been a big help. :( You can go to www.irs.gov to get all the details.
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