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Give me some good ideas!

I am a single mother in a tiny apartment with all hand-me-down furniture. I got back $5500 in taxes this year. What would you spend it on? I was thinking we need new couches and a tv and stash the rest. what would you do???

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Anonymous

Asked by Anonymous at 11:35 AM on Mar. 19, 2009 in Money & Work

Answers (8)
  • I would say take a few hundred and start a home business... That way you wouldn't have to worry about money in years to come. I make a great income from mine and in a nother year or so will be doubling what we made before my business... I pay all my business fees with my income tax every year. That way I don't have any all year and everything I make is income...
    SabrinaMBowen

    Answer by SabrinaMBowen at 12:09 PM on Mar. 19, 2009

  • if you are set on getting new furniture then I would head to IKEA where you can get the most bang for your buck and so much of their stuff is designed to fit in small spaces so you may be able to max your small area.

    If it were me I would spend as little as possible and stash the rest. Id buy a few memberships to zoos and places like that so when money is tight I would still be able to head out for the day and not feel guilty about spending the money

    with the current economy id save as much as possible.
    Anonymous

    Answer by Anonymous at 12:12 PM on Mar. 19, 2009

  • Those are great Ideas! Thank you ladies :)
    Anonymous

    Answer by Anonymous at 12:35 PM on Mar. 19, 2009

  • I agree with Sabrina...while you have the cash, start a home based business. You will be making money with that for years to come. With a home based business you will have tax write off's too. Get a new couch, put some away for rent and the rest invest in something you can make money from!!  PM me if you would like to know more about mine.

    AmyMK

    Answer by AmyMK at 12:49 PM on Mar. 19, 2009

  • LOL I live in a house and have hand-me-down furniture. What's wrong with hand-me-down furniture? I'm not going to purchase furniture until my children leave the nest! Just about everything we own is second hand, that's not a bad thing. 1, you are recycling and 2, you keep more of what you make. I like my hand-me-down furniture, I think toward Birthdays, Christmas and emergencies.
    Works4Mom.com

    Answer by Works4Mom.com at 2:08 PM on Mar. 19, 2009

  • Don't spend it all!!!! You need to have 6 months of living expenses in the bank for emergencies. Only you know whether or not the couches really need to be replaced.
    evwsquared

    Answer by evwsquared at 7:13 PM on Mar. 19, 2009

  • I'm with the gals that feel that investing in working from home is a great idea. It would give you a long term income and the freedom to spend more time with your little one. You may have to do some research to find what fits you best. If you'd like to chat, I'm available to share with you what I do. There are quite a few single parents who have found this incredibly freeing. www.HealthyHome4All.com
    TeaAnderson

    Answer by TeaAnderson at 9:05 PM on Mar. 19, 2009

  • Love the zoo idea! Think very thrifty!! With all the eccomony problems, jobs are hard to find, so save most of it. Be careful with "own your own bussiness' (some can fall prey to a scam)

    few ideas:
    new kid clothes or shoes
    stock the pantry and freezer
    maybe pick 1 new thing for the house(tv OR couch)
    Skyler11978

    Answer by Skyler11978 at 3:56 PM on Mar. 21, 2009

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