AS two million families and four million pensioners receive bonus payments of at least $1000 from today, financial planners say people should resist the urge to splurge it all at Christmas.

They say the payments are a rare opportunity for people to bolster their personal finances or even start an investment plan.

"The Government is giving these funds to help families and pensioners when it is most needed,'' AMP financial planner Darren James said.

"If you want to first help the economy and then yourself, spend the money and pay off debts last. If you are more concerned about your own immediate financial wellbeing, pay off your debts and hopefully you'll have more money to spend later.''

Mr James said the first debt to be extinguished should be credit cards. ``Interest rates might have fallen overall, but not with credit cards, so you still can be paying up to 21 per cent per annum in interest on some cards,'' he said.

If debts were paid, families could look to a savings plan for their children, while pensioners might consider a funeral bond, he said.

Those benefiting from the payments include:

FAMILIES, who receive $1000 per eligible child (for whom they must be receiving Family Tax Benefit A to qualify).

CARERS, who receive $1000 for each eligible person in their care.

PENSIONERS, who get $1400 for singles and $1050 for members of a couple if they are receiving one of several payments including the Age Pension, Disability Support Pension or Veterans' Affairs Service Pension.

SENIORS, who receive the same as pensioners if they hold a Commonwealth Seniors Health Card or receive some other government allowances.


NO THANKS TO FAMILIES SA, FOR MAKING ME SPEND MY SAVINGS, AND ENDING UP WITH NO MONEY, I HAVE TO RELY ON THIS PAYMENT FROM CENTRELINK, TO PURCHASE MY CHILDREN A CHRISTMAS PRESENT, AND PAY OFF SOME BILLS THAT I CANT AFFORD TO PAY. IN ALL HONESTY THE LAST SIX MONTHS OF FAMILIES SA BEING IN MY LIFE AND NIGHTMARES, MY BANK BALANCE WENT FROM HEALTHY TO ZILCH.

SO ONE BONUS FROM THE GOVERNMENT, BUT WHAT ARE THEY GOING TO TAKE FROM US IN RETURN.........OUR CHILDREN!!!!!!

errmm, I still cant afford to get my gas on. and when that money comes, it goes 30secs later to pay the bills.that ends up back in the pocket of those that gave it.