By Steven Zenk, Your Secure Retirement

&8220;What should I do with the money?&8221; That question will be discussed this spring across the kitchen tables, backyards and water coolers as couples, neighbors, co-workers and friends begin receiving income tax rebates.

More than 130 million Americans will benefit from this one-time infusion of cash aimed at stimulating the U.S. economy. Most households will receive $600 to $1,200, while lower-income people, Social Security recipients and disabled veterans are likely to receive at least $300. Additional dollars will be given to qualifying tax filers with children under age 17.

The options for spending one&8217;s rebate are, well, stimulating. Consumer electronics? Travel? Clothes? Bling? The rebates are meant to encourage consumer spending, but that strategy may not be the best long-term decision for many individuals and families.

If you haven&8217;t already spent (or pre-spent) you rebate, then consider these common sense suggestions for making the most of your income tax rebate.

Start or increase your emergency fund: Unexpected bills happen &8212; a lot! Establishing a cash reserve is important to financially surviving sudden car repairs, medical bills, broken appliances and thousands of other unanticipated outlays. Set a goal of building a minimum of one month&8217;s living expenses for your emergency fund (two- to three months is better).

Pay down your credit card debt: If you carry a balance on your credit card from month to month, you&8217;re likely paying for that privilege. Often, cards feature attractive, low interest rates initially only to jump up after a period of time. The loser in this deal? Those who carry big balance on their cards. Get out of the vicious high-interest cycle. Pay down your balance now, and pay off your balance each month.

Save for retirement: It&8217;s never too soon to begin preparing for a financially secure retirement. Traditional and Roth individual retirement accounts (IRAs), and 401(k) and 403(b) retirement plans are among the more common tools to build one&8217;s retirement savings. Lest you think this option is not worth your time, consider that $1,000 put into a tax-deferred account earning a modest 6 percent each year will grow to $10,286 over a period of 40 years. That&8217;s no small change.

Protect your health, property, income and life through insurance: When accidents happen, someone pays. If you&8217;re not protected, that someone is you! Health insurance, property insurance, disability income insurance and life insurance are designed to protect you and your loved ones from risks that can devastate your financial stability. If you&8217;re not currently insured in one of these areas, consult a trusted financial services professional for guidance.

Give back to others: Nothing may be more satisfying than giving to others. Devote a percentage of your rebate to support people in need or a cause you are passionate about. You&8217;ll never regret this decision.

Steven Zenk of Albert Lea is a financial consultant with Thrivent Financial for Lutherans, a Fortune 500 financial services membership organization helping nearly 3 million members achieve their financial goals and give back to their communities.