How Will You Spend Your Tax Refund?

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.

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Marie Schanke May 6, 2015 at 6:53 am

I won't be getting a refund so no "found money" for me. My husband's company made a mistake on his withholdings. 🙁

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James A. Fischer, RN, MSN April 17, 2015 at 3:23 pm

Bills, BIlls, and more BIlls. Nothing left for fun.

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Novia Minto-Muir April 17, 2015 at 11:12 am

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.

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Bonnie C April 17, 2015 at 11:06 am

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.

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Bonnie April 17, 2015 at 10:25 am

What refund?????????????? Had to pay big bucks.

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Robert O'Connell April 17, 2015 at 9:59 am

Going to Puerto Rico tomorrow.

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Sondra April 17, 2015 at 9:27 am

I ALWAYS put half into savings and spend the other half on myself!!!

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Bonnie April 17, 2015 at 9:14 am

already received and used on bills, usually use for vacation but not taking one this year.

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Thomas S. April 17, 2015 at 9:11 am

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.

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Susie April 17, 2015 at 8:46 am

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!

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Elizabeth Rodriguez April 17, 2015 at 8:36 am

We put our refund in savings!

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Robert O'Connell April 17, 2015 at 10:05 am

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

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