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How I got an Additional $180 with my Stimulus Check

By: Steve Johnson

6/17/2008 - 97 Comments

This last weekend the newspaper was full of discounts connected to stimulus checks, with everyone trying to lure people to spend their rebates at their store.

The most interesting discount I found was at my local grocery store.  The idea is to get you to spend as much of your stimulus check as they can at their store.  For every $300 dollars of your stimulus check that you put on a gift card, they will add $30 more - 10%. 

Here were the rules;

To prove you were using your stimulus check money, you had to show your bank statement or bring in your stimulus check and cash it at the store.  They would only accept cash, so if you had your stimulus check directly deposited into your bank, you had to withdraw the cash and bring it into the store.  The limit was $1800.   

This was the best deal that I could find, because buying groceries is a necessity and I didn’t have to buy anything that I didn’t need.  The deal was worth 10 percent free are clear with no strings attached.  With a family grocery expense of about $450 per month, I would get 10% on my money in 4 month ($450 x 4month = $1800) – which is about a 30% annual percentage rate (API).  This certainly beats the bank CD’s rate of 2.9% or the saving rate of 1.2%.  So, I did it. $1800 in cash bought me a gift card worth $1800 + $180 = $1980.

You can do the same

The key is to stay alert and look for opportunities like this one to make the best of your stimulus check.  Take full advantage of the opportunities that you find and put your money to work for you.  If you have some money in savings, you could take advantage of several different offers at the same time by investing your money at several stores. For example, I could also invest $1800 at menards and get an additional 5% on my money if I was in need to building materials. 

What deals did you find? Can anyone find a better deal than a 10% return in four months?

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