According to the IRS, tax rebates for millions of American taxpayers are already in the mail, or in your bank account if you opted for direct deposit. The government is hoping we’ll spend the money just as quickly and give the ailing economy a boost. Let’s get real.
With my mind wandering this week, I found myself researching and thinking of ways that this money could be wisely spent.
Todd Mintz, Director of SEMpdx (a search engine marketing association in Portland, Oregon) suggests a way that he says will stimulate “The” economy and “Your” economy: invest your tax rebate in a premium domain name.
For instead of buying consumable “goods” that have little or no future value (or paying off goods that you’ve already purchased), you are buying an appreciable asset that can generate income (from parking revenue and or site development) while you own it.
Mintz points out a few domains that he could purchase for approximately the same amount as his rebate check: Populararticles.com ($2,188), Totalpolitics.com ($2,288) and Publicmarkets.com ($2,000). According to Mintz, with “the right development strategy, each of these (and many other domains) offers me the opportunity to earn income while substantially growing the value of my asset.”
On another note, many of us have been spending sleepless night thinking about a 52″ wide-screen HDTV, a new outfit for this year’s vacation or perhaps that ‘gotta have it’ no-fail, weight-loss plan. Whatever your refund dreams, as an HR professional I suggest that you reserve a portion of that money and invest in your career. I recommend investing your tax rebate into your career to prepare for the unexpected. Here are a few ideas:
1. Buy A Relevant Career Book
Motivational books can help you get ahead and become more career-focused. They can teach you how to sell that incredible work ethic you possess. It’s all about the sell, you are the product. A couple of recommendations are Good to Great by Jim Collins and Winning by Jack Welch.
2. Purchase A New Interview Suit
Ok, at one time, you did look fabulous in the one you bought after college graduation, but let’s face it, it’s lost it’s appeal. Remember, people notice! You want to leave a lasting impression but not one that is shared at the water cooler. So spend a few dollars to spruce up your wardrobe and spring for the required outfit to spruce up your appearance.
3. Spend It On Someone Else
We all know that we feel the best when we give to others. Helping a dear friend or family member rebound from an unfortunate situation, could make all the difference in the world for them. Or if you have a buddy who is having difficulty with how to manage their time, Execution: The Discipline of Getting Things Done by Larry Bossidy is a great read.
4. Save It
Everyone know that having money in the bank is empowering. We realize that a single tax rebate check isn’t going to change your life, but in this turbulent economy, placing that cash into a savings account is a step in the right direction. The proverbial rainy day might be around the corner. Even if it never comes, a little extra cash can give you more options and confidence when making career decisions.
The old saying, “You’re never too old” applies here. Take an evening class that meets once a week, one that will add to your list of marketable skills. From my own first-hand experience, a single class can make or break the sell during the interview; it may be exactly what that employer is looking for in filling that “perfect” position.
To conclude, there are many ideas out there for spending your rebate money wisely. While many are important and practical ideas, the ones who invest their tax rebate in either their career or by purchasing that premium domain, will reap monetary rewards in the long run. So before you think about high definition, think about return. And it will benefit you in the years ahead. Uncle Sam would be proud.
Image: Jenn Jenn