You could help economy, or just help yourself

Congress continued to work Friday on legislation that would give tax rebates to millions of Americans. Now what should Americans do with that money?

Edward Jones Financial Adviser Cheri Dial in Elk Grove Village says that if a couple saves their $1,200 rebate, with compound interest it would be worth $12,000 in 30 years.

But the government is granting the rebate to stimulate the economy in the short run, so saving it would defeat the purpose.

Economists say spend it.

"Go to Disney World," said Jack Ablin, chief investment officer for Harris Trust and Savings Bank in Chicago. "Go on a vacation, but not to Europe. The Euro is expensive."

In the end, both economists and financial advisers say what you do with your rebate depends on your circumstances.

"I'd put it in my house maybe, I just got married two weeks ago," said Ronnie Stumbaugh, of Carpentersville.

"I don't know what I'll do with it, probably save it," said Herb Rabe of Bartlett.

"I'll pay my bills," said Kristen Derango, of Schaumburg.

"I'll put it toward supporting my kids," said Greg Davis of Schaumburg.

"I'd spend the money toward a car or vacation," said Jimmy Karr, 26, of Wheaton. He works as lean clinician at Lakeside Family Sports Complex in Lake Zurich.

"Pay off credit card bills. My wife likes to shop," said Patrick Pfiefer, 39, of Algonquin. He owns That's Pat's Italian Beef & Gravy.

"I'd spend the money on yarn for myself," said Kathy Patzer, 52, of Mundelein. Owner of Hawley Street Shoppe, a yarn, antique and gift shop in Mundelein.

"Pay off my bills," Karen Angel, a resident of Bloomingdale.