So, if you’re like me, you already know what you’re getting with your tax refund before you even get it. My main plan is to get tires put on my car, buy a few things for my house, and pay off the cell phone that I had to finance when the little one broke my old one. Thankfully, most of my debt is paid off, otherwise, a huge chunk would be going there too! Now that we’ve heard about mine, what are your tax refund plans? Today we’re going to discuss a few things to do with your tax refund. Some will be fun, some will be responsible… Some will be in between.
So, you heard me say that I’m planning on putting new tires on my car, right? Well, it’s not because I want to, I promise you that. It’s because I bought my car about a year and a half ago and I’ve put close to 50,000 miles on it. The tires still look good, but I know it’s just a matter of time until I start having problems, so I figure it’s best to nip this problem in the bud and get some new tires with a warranty while I have the money. To me, it’s a good idea to get a tuneup and take care of all the little things while they’re still little things and while you have the money. If not, these things turn into bigger things that cost even more money later… Likely when you don’t have the money for it! That’s why car maintenance and tires should be in your tax refund plans!!!
There are several things that I’ve thought about getting for around my house, the main one being this cool fish tank that you can grow your herb garden on top of! I think that would be an awesome addition to my kitchen (and my other cool houseplants!) Of course, if you’ve checked out my wish list recently, you know I’m dying for some dresses, so I may get one or two of those, but I’m also considering a new computer for my boys that way I can keep mine free of sticky little fingers. I mean, I spill enough crap on the keyboard already without having to worry about them doing it! 😉
Of course, if you have debt, the first thing I would recommend doing is paying it off, or at least down, so that you’re not paying interest on credit cards or loans for the rest of your life. Also, after you’ve done that, make sure and start a savings account. I have always tried (this doesn’t mean I’ve always done it!) to keep $2,000 in my savings at all times in case of emergency. It helps me to have this, because I don’t have credit cards any more… At all. I’m one of these people that cannot seem to handle credit cards because, even though I know better, it’s way too tempting to charge items than to pay cash for it, and before I know it, I’ve racked up $12,000 in debt. Yes, I did that, but I also paid it off and decided never again.
If you have your debt and savings taken care of… There’s nothing better than making an investment. My recommendation is to invest in a local small business, maybe even a business of your own! I’m considering doing something this year that I’ve always wanted to do, but haven’t had the courage to do. I want to open my own business. I won’t tell you what it is just yet, because I’m still deciding whether or not I can afford to do it, but I can tell you that currently, there’s not much stopping me… And it would be great to be able to not have to ship my kids off to daycare every day after school, so I’m slowly building the courage to do it!
Now that I’ve given you my advice and told you what my tax refund plans are, why don’t you comment and tell me what your tax refund plans are? I would love to hear them!
