How to spend $500

President Obama's $825 billion plan to stimulate the economy includes a tax credit of $500 for individuals and $1,000 for couples (with income restrictions). We asked readers and viewers what they would do with the money.

1 of 14
BACKNEXT
Pay down debt
Pay down debt
Jennifer Caldwell poses with her husband, Michael.
Name: Jennifer Caldwell, 24
Location: Sacramento, Calif.
Profession: Quality services manager for a magazine and events company

Her story: "I'm a 24-year-old mother of an 8-month-old baby. My husband and I will be using the tax credit to pay off our debt - as we do with every penny we can scrounge up. We're trying to correct our financial errors.

I admit I made some mistakes when I had my first job and credit card. Now we're paying for it. But we're making up for what we've done rather than rely on someone else to bail us out.

We have debt from medical bills, two cars, assisting my father-in-law on his mortgage payment, and random splurge purchases. Now we're learning the right way to manage our money. I think that's a hard lesson for people to learn. They get too comfortable with a certain lifestyle, and then they don't want to cut back." - as told to Julianne Pepitone

NEXT: Buy surround-sound system
Last updated January 26 2009: 2:08 PM ET
More Galleries
Don't give my job to Staples Hundreds of U.S. Postal Service workers protested against experimental mini post offices at Staples. Here's why some Washington, D.C. workers don't like the deal. More
Tools to make your money grow You've started saving and built a financial base. Time for a few new strategies and tools to get your money to grow even more. From real estate to IRAs, here are some tips. More
Ready to start saving? Here's how to do it right When you are just starting out or finally starting to get serious about saving, the basics will get you far. Here are more than a dozen tips that will help you lay the base for building your net worth. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.