Feelin’ lucky? Then hopefully that means a nice chunk o’ change is coming your way, compliments of tax refund season. And you know what? You deserve it.
Ever since the last tax season, you’ve probably worked your bum off day in and day out, diligently supplying your boss-man and Uncle Sam with the demands they put forth. Only to watch your heard-earned paychecks whittle away here and there, in order to fulfill yet a few more “special requests.” And all involuntary insinuations aside, good for you for doing so — you stepped up to be “neighborly” (so to speak), as well as dutifully lend a helping hand to the finances of our fine nation.
Whew, what a year! And here we are again, right in the thick of the tax filing months. With a few weeks yet to spare, maybe you’re just starting your tax preparation, getting those receipts and W-2s and 1099s together…
Or better yet — maybe you buckled down weeks ago to file taxes online! So a nice wad of cash-money has just fattened up your bank account. Take a moment to savor the only IRS-related question you need now face: What are the best ways to use my income tax refund?
Some of the answers may surprise you.
11 Unexpected Things to Do with Your
Tax Refund
1. Save It
All hail, those who are super-responsible! That newfound money may be trying to burn a hole in your wallet. But if there’s one tax refund idea that you won’t regret, either immediately or in the future, it’s adding to your cash-stash.
2. Splurge on a Shopping Spree
If saving isn’t the name of your tax refund game this year, now is a prime (guilt-free!) time to take advantage of some extra cash flow. Go a little wild and treat yo’self — snag that something you’ve had your eye on or scratch that itch to tackle the mall.
3. Pay Those Bills!
If adulating has got a hold on you, it’s ok to give in. There are far worse things in life than being able to see how your tax preparation has taken care of your utilities or credit card. So go ahead, give in to responsible. And delight in how that melts away stress in upcoming months. You just might be thanking tax season!
4. Treat Yourself to a Spa Day
“It’s Complicated” isn’t just a status for Facebook relationships. Obviously, filing taxes is quite the complex process for some folks. If one of them is you, then there’s no better way to rejoice over crossing the finish line than with some quality R ‘n’ R.
5. Pay That Rent!
If this wasn’t on here, this fine list of tax refund ideas would be a downright sham. So it’s only right to give it a spot. Much like the aforementioned paying of bills, it may not be the most glamorous or exciting of ways to spend a tax refund. But it sure is doin’ your current and future self a solid.
6. Conquer a Bucket List Wish
Sure, the saying goes that “the best things in life are free.” But whoever came up with that line obviously didn’t drive a real race car, try an airplane lesson, learn how to blow glass, go whale watching… or embark on any other number of incredible adventures that, realistically, may require a wee bit of financial support. So if you’re saving up to make a big dream come true, this may be your golden opportunity to cash in on it!
7. Donate to a Charity
Sometimes, it can feel challenging or frustrating to give away your own goods, when you may already live paycheck-to-paycheck. But at the same time, your heart breaks for wanting to help others in need. If your kick-back from the government allows some wiggle room, a tax refund is a great chance to get your donation fix done. And you may even be able to write it off during next year’s tax season, then, too!
8. Invest It
And so we hit the trifecta of “adulting.” If you’re gunnin’ to use your treasured tax refund with the utmost responsibility, but aren’t as keen on putting it towards rent or bills, an investment may be calling your name. Think of it as planting a seed and watching it grow. Which sounds pretty darn close to making money grows on trees. So get sowing!
9. Fund Your Entertainment
When you’re doing your best to make ends meet, it’s far too easy to feel a bit bad about putting cash towards recreation and socializing. After all, those movies and brunches and big nights on the town sure add up fast! So one top tax refund idea is to allocate it towards all those finer things in life, stretching it as far as it can possibly go. Buh-bye, guilt!
10. Adopt a Pet
Welcoming an animal friend to the mix costs a pretty penny. Especially starting out, when faced with expenses like food, toys, treats, beds, etc. — not to mention vet fees and the initial adoption cost. If you’ve been holding out on adding a member to the family based on finances, the arrival of your tax refund may be the perfect (and most reasonable) time to pull the trigger!
11. Spruce Up Your Humble Abode
Household accessories have the potential to come with a hefty price tag. But the value of being comfortable in the space that’s yours cannot be underestimated. So put wallet-worries aside. Spend your tax refund on some fun décor or tackling much-needed home improvements. Make that pad into a place that’s truly home sweet home!
