CNNMoney estimates that nearly eight of out 10 Americans will receive a tax refund this year, which many consider as a bonus. What will you do with this “extra money”? Will you use it to pay bills? Are you planning a special trip or night out? Or will you simply put it in the bank and save it for a rainy day? Share your thoughts in today’s Question of the Week.
12 CommentsHow Will You Spend Your Tax Refund?
Previous post: Throwback Thursday: What’s Your Favorite Baseball Game Memory?
Next post: How Do You Support Sustainability?
{ 12 comments… read them below or add one }
Comments
I won't be getting a refund so no "found money" for me. My husband's company made a mistake on his withholdings. 🙁
Bills, BIlls, and more BIlls. Nothing left for fun.
I always use my refund on projects around my house and donate some to my favorite organizations. This year, I will still donate to my organizations but, the rest I will put in the bank until I decides what I want to tackle in my house this year.
This will likely be used to pay my property tax (or some part of it anyway). In the past the refund has gone into savings & was used as needed to pay bills of all varieties. Vacations are planned in advance & sometimes put on a credit card. In those cases, the refund helped to pay off the credit card. Re: RMO suggestion to add withholding allowances - Unless I'm misunderstanding, this suggestion doesn't work for me, because it's just me & hubby these days. Can't add more withholding allowances than you have dependents.
What refund?????????????? Had to pay big bucks.
Going to Puerto Rico tomorrow.
I ALWAYS put half into savings and spend the other half on myself!!!
already received and used on bills, usually use for vacation but not taking one this year.
We recently had a vintage VW Westfalia camper shipped from Seattle. Refund is going to offset refreshing our our mobile ongoing adventure bus! Plans to visit the Pacific NW in a year or so.
This is the first refund we've had in many years, and intended to take a vacation. However a visit to the Emergency Room cost us almost exactly the same amount as our refund. So, we took a "trip" to the Emergency Room instead of a "trip" to the Florida Keys!
We put our refund in savings!
If you routinely put your refund into investments that bear significant returns -- in this market CD and passbook savings returns are not significant -- consider adding withholding allowances to maxmize your paycheck and earn returns as you earn income. You can find withholding calculators online but beware they are non-trivial to use. I never get it right but hopefully you're smarter than me. FYI, RMO