“Next to being shot at and missed, nothing is really quite as satisfying as an income tax refund.”

The most dreaded time of the year has come and gone and for some of us the sting and pain will be with us for a little while.  I am talking about tax day, and while some of us needed to limp off and lick our wounds, there are a few out there that will actually be getting a little money back from the clutches of the IRS.  If you are one of those few lucky ones, I applaud you and I have to wonder, what are you going to do with the money you will be getting back.  Sure it seems like found money and you can think of nothing better than to splurge and buy that new, flashy, exciting, fill in the blank item you have been eyeing for months.  I have to be honest, in previous years, I too have succumbed to this fever and believe me I have enjoyed it.  However, as I get older, the things I want to splurge on are far too expensive to be covered by the few dollars we usually got back from the government.  While a computer or a new television may have made me giddy when I was younger, now, all I can think of spending our money on are extravagant trips, pieces of artwork, or maybe a new car.  Not really the stuff that could be bought from a mere tax refund.  But, maybe there a few things that might make me take notice this year, if we were getting a refund. 

We’ve all talked about it but not many put it into practice.  We have a little extra money and instead of doing the responsible thing, we spend it as soon as we get it.  But one of the first things anyone should do with their refund is to save it.  Homes are expensive and if something goes wrong, it is nice to have a little slush fund for just that reason.  Next time the water heater breaks or the air conditioner is down, having that money in the bank to cover any repairs can save you many a headache and relieve the stress that comes with it.  Better yet, you could also take that refund and pay down any existing debt you may have.  The less you shell out each month allows you to save more in the long run because you will be paying less in interest over time.  If you have some things in your home that need to be repaired or upgraded, your tax refund may just be the ticket you need to get things done.  Not only are you taking care of any problems and maintaining your home, but you could be raising its value at the same time.  Things like basic maintenance and repairs or even upgrading the energy efficiency of your home, in the log run, will actually put even more money back into your pockets better than that shiny new fill in the blank item you just have to have.  If you have to spend your refund, you really want the most bang for your buck. 

(The blog title is a quote by F. J. Raymond, humorist)