Rebate Checks Could Spark Urge to Splurge

Marks recommends using the windfall to pay down high-interest credit card debt. Couples who aren't saddled with debt and earning less than $150,000 annually should consider saving the cash in a Roth IRA, he says.

Cicily Maton, founder of Aequus Wealth Management Resources in Chicago, cautions that splurging on certain items -- such as a puppy -- often means expending additional funds over time for upkeep. She suggests that eligible taxpayers simply put their rebates aside to cover a future unanticipated expense.

I believe in delayed gratification -- bearing through short-term misery to attain benefits down the road.

Many taxpayers and financial experts seem to share my philosophy -- at least when it comes to this year's rebates.