Americans across the country are waiting for the day when they get that promised free government money. Yes, I am talking about the economic stimulus payments that we have all heard so much about. If you are anything like me, you already have a few ideas on how exactly you are going to spend that money-complete with written lists and pictures displayed on cork boards. If you are like a lot of people who tried not to get overexcited about the money, in fear of not getting the largest amount, now is the time to at least give it some thought. Here are some ideas if you just can’t think of what to spend your free money on-which has never been a problem for me.

• Updated Wardrobe: This is a pretty common thing to spend some extra money on because fashions change so quickly that it can be a little difficult to keep up with current trends and styles. But now is the perfect time to get some great pieces. Have fun, splurge, and enjoy-especially since it is free money!

• Savings: If you don’t have any real need for the money right now, why not put it in savings and let it work for you? This way, when you do need the money, it will be there with a little extra.

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• Home Renovations: For many, their home renovations have been put on hold because of the horrendous economy. But now, you can get on with your construction attempts.

• Buy Gasoline: If you are incredibly worried about the ever-increasing price of gas, why not buy as much as you can now-stock pile it now for when gas costs about $5 or more a gallon. You would definitely be saving yourself some money in the long run.

• Pay Off Debt: Just like buying a completely new wardrobe, paying off debt is another very popular thing to do with your extra money. This includes making an extra payment to credit cards or loans. Also, look into getting off some of that mortgage amount. One of the best ways is to have a money merge account. This account will use every spare penny that you aren’t using to go towards your mortgage. This adds up quickly. Just imagine if you could pay an extra couple hundred towards it!

Whatever you decide to spend your money on this summer, just make sure to put it to good use-and enjoy it!

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