Posted on Mon, May. 05, 2008

$600 How will you spend it?

By Scott Sloan

SSLOAN@HERALD-LEADER.COM

The federal government's giving you money to burn -- if it's not already spent.

The much-discussed economic stimulus checks are hitting households nationwide. Some direct deposits have already been sent, and checks via snail mail will start rolling out May 9.

To see when yours will arrive, visit www.irs.gov and click on "Economic Stimulus Payments Start."

Eligible individuals will receive up to $600, while married couples get up to $1,200 plus $300 per kid.

So what's the best lighter fluid to help you torch your check?

Family vacation

Sure, you could go to Gatlinburg or King's Island, but what goes better with an economic slump than a helping of Memphis blues. On the itinerary are legendary Sun recording studio ($9.50), the Stax Museum of American Soul Music ($10), Gibson Guitar Factory ($10), and, of course, Graceland ($27-68). For food and entertainment, there's plenty on Beale Street. For the kids, hit the Memphis Zoo ($13), take a riverboat tour and visit Mud Island River Park ($8).

Summer of concerts

To spend at least $600 on concerts, you're going to have to leave Lexington. So let's assume $200 for gasoline and the inevitable slew of Ticketmaster charges. Plus, another $100 for food and drinks. With $300, you can still find yourself at all of these concerts. For a complete list of summer concerts, see the June 1st edition of Arts + Life.

Tim McGraw: May 21, Cincinnati, $29.50-59.50.

Sheryl Crow: May 25, Cincinnati, $51.75-79.25.

The Raconteurs: June 10, Cincinnati, $29.25-31.25.

Tom Petty and the Heartbreakers: July 8, Cincinnati, $31.25-96.25.

John Mellencamp: July 23, Cincinnati, $20-121.75.

Kenny Chesney: July 31, Cincinnati, $38.50-76.75.

Dave Matthews Band: Aug. 1, Louisville, $55-65.

Nine Inch Nails: Aug. 31, Rupp Arena, $41-45.• 

Gadgets

• A 16-gigabyte iPhone ($499 at Apple.com) and a hundred bucks of accessories.

• A TiVo Series 3 high-definition digital video recorder ($599.99 at TiVo.com). It's the world's only THX-certified DVR, they say.

• 40-GB Sony PlayStation 3 ($399.99) plus Grand Theft Auto IV ($59.99), a collector's edition of Metal Gear Solid 4: Guns of the Patriots ($84.99 -- Available June 12) and some strategy guides.

Hit the road

So where will $600 in gasoline get you? Of course, it depends on the car you drive. Here's a sampling of round-trips from Lexington.

Ford Explorer: Fruita, Colo., about halfway between Denver and Salt Lake City.

Dodge Grand Caravan: Just short of Idaho Falls, Idaho, which is just past Yellowstone National Park.

Ford Focus: The San Francisco Bay, literally.

Toyota Prius: Just shy of London, England, if that pesky ocean wasn't blocking the way.

Note: Assumes cost of regular unleaded as $3.54, the average price predicted for the summer by the U.S. Energy Information Administration; fuel efficiency based on manufacturers' spec sheets and is split between highway and city driving. No word, though, on the fuel efficiency of the Prius underwater.

One to rule them all

Toss in an extra $50 and you can buy an 18-karat gold version of The One Ring from The Lord of the Rings (www.noblecollection.com). The woman (or man) who will allow you to wear it as your wedding band, though, is priceless.

No lighter fluid here

Don't want to burn it all? Saving or investing the money may not be the most alluring choice, but it can pay off in the long-term.

If you invest in the stock market and receive an annual 8 percent return, that $600 will be $4,109 after 25 years. If you start to deposit $600 annually, you'll have $51,482 after 25 years. Of course, inflation ensures that won't have the same buying power it does today. To use financial calculators to determine how much you could build, visit www.finance.cch. com/tools/calcs.asp.

Curb appeal

Trying to sell your house?

You can spend your rebate sprucing up the outside to lure in potential buyers.

• A new set of Gulfcoast Oak Plantation Shutters ($203.93 at Lowes.com).

• 10 pale lavender hosta plants ($99.50 at hostasdirect.com).

• A new 9 foot-by-7 foot garage door ($238.40 at Lowes.com).

Shipping and tax charges will take the remaining $58.17.

Spend more, buy more

Some businesses are offering incentives to get their hands on your rebate. For example, if you purchase a Sears gift card for the full value of your rebate, the company will give you another gift card worth 10 percent of the check.