Here are some tips for using rebates

The success of the $146 billion emergency economic stimulus plan engineered by the White House and Congress will hinge on whether American consumers do what they do best — spend, spend, spend. But some experts, including credit counselors, think Americans should consider using the rebates to improve their personal balance sheets.

The Association of Independent Consumer Credit Counseling Agencies is offering these suggestions:

• Pay down debt, especially high-interest credit-card balances.

• Start an emergency savings fund.

• Set money aside for planned expenses, like your summer vacation.

The National Foundation for Credit Counseling offers these tips:

• Catch up on any past-due payments to avoid penalty fees.

• Plan for your future by opening a retirement account.

• Make needed repairs to your house or car, reducing likelihood of more-costly emergency work.

• Make your home more energy-efficient to save money in the future.

• Make an extra principal payment on your mortgage or other loan to reduce long-term interest costs.

• Save the rebate as "seed money" for the down payment on a home.

Once debts have been paid and savings accounts launched, says the foundation, "treat yourself" with dinner at a special restaurant or the purchase of an item you've had your eye on. "Within reason," it added.