Here’s another option if you don’t want to give your federal rebate check to charity, back to the government, or to the first retailer with a sale that tempts your shopping urge: keep it for yourself, as an investment for the future. Kathy Nelson works at Iowa State bank in Algona and chairs the Consumer Services Committee of the Iowa Bankers Association.She says it doesn’t sound like much, but 600 dollars in CD’s can grow with compound interest of five-percent to 687 dollars in five years, and double itself in 15 years. Nelson says if you’re bewildered by all the investment possibilities, you could just visit the local bank.She says it’s insured so you can’t lose the original investment, and a banker has lots of ideas. Nelson says you don’t have to win a lottery jackpot or inherit lots of money to begin investing. In fact, Nelson says that federal rebate check is quite enough to begin investing with, if you haven’t started up till now.
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