Spending Your Income Tax Refund
Tax time is here. You’ve probably filed your income tax return and maybe you’ve even received a refund. Assuming you don’t have outstanding bills to pay, you now have a little windfall.
Since a tax refund is usually “found” money and not part of your regular budget, why don’t you spend it on something that’s not part of your regular budget? Here are some ideas.
It’s the perfect time of year to plan for a vacation. Use your refund for a quick getaway, or add it to your existing vacation fund to upgrade a trip you’re already planning.
Your home is probably your biggest investment. It’s actually pretty responsible to spend your refund on things that will increase its value, like repairs or upgrades. Think about the little home projects you’ve been meaning to start but didn’t have the cash for during the year.
If you’re in the market for a new vehicle, consider using your tax refund towards a down payment. What better way to enjoy the open road this spring than cruising in your new car or motorcycle?