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)