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What do you do with your tax refund?

we generally go on a trip BUT this upcoming Spring will be our 1st time putting the entire mess into savings. (We got over $10,000 from last yr. and have major guilt/regret over blowing it) What do others do?

 
hibbingmom

Asked by hibbingmom at 12:46 PM on Jul. 31, 2009 in Money & Work

Level 35 (71,876 Credits)
This question is closed.
Answers (7)
  • Blow it. My dh bought theme park passes. We also bought a used vehicle for $3500.00. runs great! RU in MN?
    writeon

    Answer by writeon at 1:00 PM on Jul. 31, 2009

  • We don't get a tax refund. We adjust our withholdings so we have our money throughout the year. Typically break even or owe 100 bucks. We put 1k in savings thanks to doing it that way. You let the government earn interest on your 10k when you could have.
    Anonymous

    Answer by Anonymous at 12:58 PM on Jul. 31, 2009

  • I buy my son && I a whole new wardrobe, that's about $750 or so. Then I usually splurge && spend maybe $200-$400 of it on whatever I want && whatever I want my son to have. Then the rest goes directly into savings. I've always been a saver though, so it's not hard for me at all.
    HisMommySince07

    Answer by HisMommySince07 at 1:00 PM on Jul. 31, 2009

  • We generally don't get any back-- we usually owe a couple thousand. I'd rather owe than have the government make interest on money they shouldn't have been taking in the first place.

    But--- if one day we did get something back, I'd probably spend half and save the other half. Then I wouldn't feel so guilty!!!
    Anonymous

    Answer by Anonymous at 1:16 PM on Jul. 31, 2009

  • We normally just b;ow it but this coming refund we are going to pay our car loans off and put the rest in savings so we can buy a house!!
    mom2bentlea07

    Answer by mom2bentlea07 at 2:30 PM on Jul. 31, 2009

  • Last year we bought a new computer for me, put $1000 in savings and the rest was used for various things we needed: clothes, food, etc. It's all gone now and so is most of our savings.
    Next year we'll probably use a bit to buy a new laptop for my husband and the rest will go into savings to use as needed throughout the year. My husband wants to put it all on our car loan but we just declared bankruptcy so the only debt we have is the car and paying that every month actually improves our credit so I think we should just keep paying it (we owe about 3 more years on it).
    justanotherjen

    Answer by justanotherjen at 4:11 PM on Jul. 31, 2009

  • We pay off bills..Last year we paid off my car, bought some things to fix up this house, and saved some for an emergency. I always pay off my credit card with it, and other bills. Just once I'd like to be able to "blow it". I mean if we need clothes we take $200 from it and buy everyone something they need, I just wish we could use it on a vacation or something.
    This coming tax season, I'm going to pay off my school, credit card for good, and save the rest until we have a better idea of whats more important to fix in this place. Have fun on your vacations!!!!
    mumma28

    Answer by mumma28 at 12:32 AM on Aug. 1, 2009

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