Americans are set to receive their economic stimulus check soon and already many are planning to blow it on items that they don't need. A recent survey conducted by Zogby International found that only 16% of those surveyed said that they would spend the rebate on "something they consider necessary" while only 20% said that they would save it. So, what should you do with your check? Before you go spending it on a new car, many experts recommend that you focus on paying down any unsecured debt. Unlike mortgage debt, these debts do not carry any economic benefit and can only cost you more money in the longrun!

From Bloomberg:
Now that your economic stimulus check is in the mail, what do you do with it once it's in hand? Want to stimulate your own finances? Consider using your rebate to pay down debt or to refinance. You may have to shelve plans for a vacation or a big-screen television. Yet it might get you back on a savings track and lower your monthly debt outlay. Still smarting from the bursting of a credit bubble, U.S. consumers may be in the mood to take care of some bills. Four out of 10 Americans polled said they would use the rebate to pay down debt, according to a Zogby International survey commissioned by TransUnion's TrueCredit.com, a credit-rating service. Only 16 percent of those surveyed said they would spend the rebate on "something they consider necessary." Some 20 percent said they would save it.