How to spend your economic stimulus check

The government wants you to dump it on things you don’t need, or to finance a huge luxury purchase. That’s exactly what you shouldn’t do.
The best thing you can do with the inflated money is to pay down debt. Start with your highest interest account and dump your check on it. There is no reason to carry debt on 10-20% credit cards when you’ve got cash on hand earning 2.5% at your local bank.
If you’re a part of the small minority with little debt, your next great investment would be in your home. Take the $600 and put it towards things like a low energy furnace or air conditioning unit. As the summer months begin, heating units will be fire sale cheap. This is a great chance to get a good deal on a furnace and possibly benefit from a tax rebate by switching to a low energy unit. For the super saver, consider spending some extra money on new faucet heads or compact fluorescent light bulbs. You’ll cut down your water and electricity usage by a serious amount. CFLs use 75% less energy than their bulbous counterparts while providing the same amount of light, not to mention they last longer as well.
Making an extra mortgage payment would be a wise decision, but don’t do it if your rates are low to begin with. After adjusting for taxes (multiply your rate by 1 minus your marginal tax rate) you probably won’t be getting very good returns.
An emergency fund would be the best solution for anyone who doesn’t have loads of debt. The average family will be getting about $1800 this year, an amount that can go pretty far for an emergency fund starter.
There are a million and a half things you could do with the money, but consuming isn’t one of them. Save the cash and keep it for later, there are always times you could use a bit of extra money.