If President Bush's proposed tax rebates are approved, checks worth up to $1,200 could be sent to taxpayers in the next few months.
Bush hopes the rebates will help perk up the economy and head off a recession. Most taxpayers would receive about $600, with extra money going to couples and families with children.
Financial planners suggest using the money to help build an emergency fund that would cover at least six months of living expenses. Experts also recommend paying off credit card debts with the refunded money.
If the plan is approved, checks are expected to reach 117 million families. About $50 billion would also be given to businesses to invest in new plants and equipment.
Additions to the plan are being considered by the Senate. Those considerations include the extension of unemployment for workers with expired benefits, boosting home heating subsidies, raising food stamp benefits and money for public works projects.
AP wires contributed to this article.