In case you haven’t been paying attention, the government will be issuing an “economic stimulus payment” to millions of people very soon. Basically it’s free money to those who have a valid Social Security number, at least $3,000 of income and have filed a 2007 federal tax return. According to the IRS, “Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17.” The theoretical purpose of this is to get those millions of people to run out and buy useless crap to help jump-start an economy that’s starting to look pretty sickly.

So when can you expect your free money and what should you do with it? (more…)