If you are a coffee or latte addict like me, the one thing I would consider a good investment to use your rebate check on, is a high-end latte machine. This could more then pay for itself in 6 months. BUT, you have to use it and not just let it sit on your counter! This is an example of an investment that will actually SAVE you money in the long run. This type of spending makes sense. Just make sure you are not blowing your rebate on junk that will not pay you back.

Ok, now onto the savings part of my article.

Here are 5 things to do with your rebate check that will actually help you create more wealth.

1. Personal Education: As I have said before, I continue to educate myself to keep me on top of my own business and personal goals. Why not take your check and invest it in your education? Hire a financial coach, take a course on finances, or attend a seminar that you feel will bring you value. Or, if you are employed, ask your employer if they will help you pay for education that would further your career. Then, you can take another course of your choice.

2. Emergency Fund: With our economy being shaky now, it is a great time to start an emergency fund. Maintaining a solid emergency fund is an important safety net, and while the tax refund won't fully fund this emergency account, it's a good beginning. You goal is to have at least 3 months of your monthly expenses in this account. Find a high interest on-line savings account to transfer funds into. This will make you feel so good just knowing you have a back up plan, you will walk taller, I can guarantee that!

3. Retirement Fund: If you have not started a retirement fund, this might be a good time to start one. If you already have one, adding to it is also a good idea. Open an IRA or Self Directed IRA to ensure you have a nice nest egg when you retire!

4. Wealth Account: This account is different than your emergency fund. If you have an emergency fund already, then start a wealth account. This account is meant for building wealth. Once you deposit your rebate check into this account, set up an automatic 10% deposit from each paycheck you receive to go directly into this same account. Once you build up enough money in this account, invest it into another high interest/low risk account. As you build up your wealth account again, continue to invest over and over again. You want to be sure that this money keeps moving. Do not put this money in any account that you cannot touch or move in a reasonable time frame. This is a great way to skyrocket your net worth!

5. Debt Reduction: If you have credit card debt, I would highly recommend that you pay it down. This will supercharge your debt reduction plan. The key is to remember that once the debt is paid off, you should keep it off and not build up the credit card balance again.