It's tax season! How are you using your refund?

1235

Replies

  • jazzybean1
    jazzybean1 Posts: 113
    Going to Thailand for 3 and 1/2 weeks with my husband and 2 other couples!!! Leave in just over 2 weeks:)
  • JStarnes
    JStarnes Posts: 5,576 Member
    I'm the bread winner for our family of 5 - I have them tax me with 0 dependants all year long - my checks are the same now as when I was single without kids. When we file, we get a pretty large refund, enough to pay for the kids sports up front, our vacations up front, last year we paid off my car, and put a big chunk into each childs savings. This year we're putting a building in our back yard, and having a lot of landscaping work done, also some in-house remodeling. I understand that I'm "letting Uncle Sam use my money all year long interest free"....but for me, if I claimed all of us on each check thru the year, it wouldn't make it to savings. We'd justify purchases we didn't need, and end up spending the extra and wouldn't be able to enjoy the vacations and such like we do now. I'm the worst saver in the whole world. JMO.
  • Blugal1
    Blugal1 Posts: 92
    When the gov't gives me back my interest-free loan... I am hoping to finally get a used truck to pull my horse around with!
  • rjmwx81
    rjmwx81 Posts: 259 Member
    I understand that I'm "letting Uncle Sam use my money all year long interest free"....but for me, if I claimed all of us on each check thru the year, it wouldn't make it to savings. We'd justify purchases we didn't need, and end up spending the extra and wouldn't be able to enjoy the vacations and such like we do now. I'm the worst saver in the whole world. JMO.

    Like losing weight, all it takes is discipline. I'm not saying it's easy, but anyone can do it. And if you think it's nice having that money now, imagine having that money with extra interest on top.
  • irjeffb
    irjeffb Posts: 275 Member
    Not getting a refund. I decided I don't want to give the Federal government an interest-free loan for 11 months every year, so I adjusted my withholding. I owe something like $7. Meanwhile, what *would* have been my tax refund has been sitting in my bank all year, earning interest for *ME* and not the government.
    ^^^^^^^
    Another person who sees this scam for what it really is.
    A hidden tax on the poor.
    A hidden tax on the poor?! Are you serious?

    Most of the "poor" get back EVERYTHING they paid in AND THEN SOME. That extra is funded by the 53% of us who actually pay Federal Income Tax, by the way.
  • qkidney
    qkidney Posts: 258
    Paying on some debt and going to Florida and on a cruise :)
  • Nerple
    Nerple Posts: 1,291 Member
    If I get a refund back, think I'm in a new bracket this year, it's just being tossed into into the bank.
  • TheRoadDog
    TheRoadDog Posts: 11,788 Member
    I understand that I'm "letting Uncle Sam use my money all year long interest free"....but for me, if I claimed all of us on each check thru the year, it wouldn't make it to savings. We'd justify purchases we didn't need, and end up spending the extra and wouldn't be able to enjoy the vacations and such like we do now. I'm the worst saver in the whole world. JMO.

    Like losing weight, all it takes is discipline. I'm not saying it's easy, but anyone can do it. And if you think it's nice having that money now, imagine having that money with extra interest on top.

    I've had this argument more than once with my Father In Law. I not only pay Married but at the single rate, I add $40 to state and $40 to Fed each paycheck.

    FIL keeps arguing that we shouldn't be giving the government the money to make money with....blah blah blah.

    Personally, I like getting that 2 or 3 thousand each spring. Plus, I don't have to go to my son in law for a loan when I miscalculate.....like my FIL DID!!!!!
  • jc1229
    jc1229 Posts: 220 Member
    I'm going on vacation to Costa Rica in May, can't wait! :) If I end up having any money left over it will go into my savings account.
  • klbaierwalter
    klbaierwalter Posts: 308 Member
    Hmm, I actually hadn't thought about this yet. Probably putting in into my savings account because I work in the schools. So from June 5th-August 22nd, I have no income. I just want to make sure I can pay the rent over the summer :-)
  • jeepwidow01
    jeepwidow01 Posts: 173
    To pay another payment towards my house.

    A.C.E. Certified Personal Trainer
    IDEA Fitness member
    Kickboxing Certified Instructor
    Been in fitness for 28+ years and have studied kinesiology and nutrition

    Great idea!!
  • lizdavis07
    lizdavis07 Posts: 766 Member
    um, let's see...perhaps an orange. Or I might decide to spurge a little and be able to buy a whole bag of them! :drinker:
  • SinIsIn
    SinIsIn Posts: 1,865 Member
    MAYBE a new stove, but mostly we're just going to save it. I don't pay my taxes with my house payment, so I save up through out the year to pay my property taxes.
  • Qarol
    Qarol Posts: 6,171 Member
    um, let's see...perhaps an orange. Or I might decide to spurge a little and be able to buy a whole bag of them! :drinker:
    A whole bag! That's just crazy talk.
  • JStarnes
    JStarnes Posts: 5,576 Member
    I understand that I'm "letting Uncle Sam use my money all year long interest free"....but for me, if I claimed all of us on each check thru the year, it wouldn't make it to savings. We'd justify purchases we didn't need, and end up spending the extra and wouldn't be able to enjoy the vacations and such like we do now. I'm the worst saver in the whole world. JMO.

    Like losing weight, all it takes is discipline. I'm not saying it's easy, but anyone can do it. And if you think it's nice having that money now, imagine having that money with extra interest on top.

    I've had this argument more than once with my Father In Law. I not only pay Married but at the single rate, I add $40 to state and $40 to Fed each paycheck.

    FIL keeps arguing that we shouldn't be giving the government the money to make money with....blah blah blah.

    Personally, I like getting that 2 or 3 thousand each spring. Plus, I don't have to go to my son in law for a loan when I miscalculate.....like my FIL DID!!!!!
    Exactly. I know *how* to do it, I understand savings and interest and money - I'm a banker by day :tongue: but like Mike, that refund is a lot sweeter in the lump sum. And anyway, find me a product that would be worth the trouble . Avg savings is paying .1 - .2 APY around here. I'll let Uncle Sam use it how he sees fit, as long as he gives it back when he's done.
  • lizdavis07
    lizdavis07 Posts: 766 Member
    um, let's see...perhaps an orange. Or I might decide to spurge a little and be able to buy a whole bag of them! :drinker:
    A whole bag! That's just crazy talk.

    yes, yes, i do tend to live on the edge sometimes.
  • katya73
    katya73 Posts: 464
    Well end of financial year is not until end of June here ... But I plan on taking my toddlers and going on a holiday :)))
  • vanrunninggirl
    vanrunninggirl Posts: 48
    baby fund!!!! :D
  • jennyjo79
    jennyjo79 Posts: 95 Member
    I wish I got one. We take it in the *kitten* every year and we don't even make that much.


    I second that one! Seems ya can't win unless your barely scraping by or rich. Those in the middle seem to get the shaft. And it also doesn't help that Hubby owns his own business.
    This time of year is depressing around here. :(
  • kimmie185
    kimmie185 Posts: 550 Member
    I'm traveling this summer to New York (I'm in Texas), Boston, Philly, and Washington D.C. for school with my friend so i'm using my money towards that and tuition...
  • bhalter
    bhalter Posts: 582 Member
    Since I'm only getting 132 bucks, saving it for maybe a night out or perhaps some new workout clothes. Well, 132 so far. I still have to fill out all my tuition info and I may get a bit of a refund from that.

    Random - you look just like Natalie Portman. (Though I'm sure you're told that all the time.)

    And yea, you probably will. My student loans are the reason I get very much back at all.
  • boomboom011
    boomboom011 Posts: 1,459
    refund? ha! thats funny right there.
    own our own business so we usually get to write a check
  • stephabef
    stephabef Posts: 936 Member
    I doubt I'll get one. $2.13 an hour means I'll most likely be paying.
  • smilewithkatherine
    smilewithkatherine Posts: 82 Member
    I plan to use my refund for my trip to San Diego in July.
  • katcod1522
    katcod1522 Posts: 448 Member
    new kitchen floor...elliptical....shopping at the expo of my half marathon in March...4 day vacation in TN over Easter break in April.
  • AmyMK
    AmyMK Posts: 164
    my tax return usually coincides with my performance bonus from work...I think i'm going to get my brakes done on my truck, and get some personal trainer sessions...I need to find someone to train me to do a 10 k!!
  • rockerbabyy
    rockerbabyy Posts: 2,258 Member
    we will be paying back the inlaws (they loaned us money to help with the downpayment on our house) and getting some work done on our suburban (brakes, a/c, radiator) and save for a trip to utah in the summer to visit my family. the rest will stay in savings
  • I_give_it_2_u_str8
    I_give_it_2_u_str8 Posts: 680 Member
    It's going right to the Vegas fund. I have some friends getting married in May at the little white chapel. So I'm planning on partying quite hard. I'll need bail and gambling money. Also, I may need to buy new clothes, I'm looking to be down another 30 pounds approx. by then.

    exactly this. which reminds me to top up on my rrsp (401k to u yanks)
  • annameier8706
    annameier8706 Posts: 417 Member
    Finally having out big wedding, after 3 years of marriage. :-) and if there's enough leftover, I'm getting a boob job! Heck yes!!
  • LoriBarefoot
    LoriBarefoot Posts: 218 Member
    IF we get a refund, which we never do....


    It's already designated to go towards a new washer and dryer. My dryer screeches and very loud high pitched screech when you run it. Drives us and the cats CRAZY!
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