Tax Time is Coming...

[exwdwcm]

Everyone can do whatever they want with their own money. I haven't seen a refund in years, but when I did get them I tried very hard not to treat it as a "bonus" to splurge with. It's not. It's a portion of my salary that the feds borrowed from me at 0 percent interest.

We Americans are very generous lenders, it seems. But I always had a hard time looking at that refund as something to splurge with.

Again, it's your money. Do as you will with it. But since the question was asked...

i agree, it isn't extra 'free' money, it's YOUR money the gov't 'borrowed interest-free'! but most people don't get that. DH works his hardest to not let them get their hands on too much!

I try very hard to ensure that I neither owe or receive very much. That said, it does provide a mechanism for someone to save where they may not otherwise do so. It really comes down to an opportunity cost which can be easily quantified.

i have to agree here, it isn't the best method to save obviously, but for some, it might be the only way if they have zero discipline with finances. in fact, i have heard friends outright state that they prefer it that way because it is the only way they ever see a large lump sum like that. How they could 'never save' that much. sad, but true.

 

[larryz]

So far, it's well over half who say they're going to use tax refund money to help pay for their vacation. Anyone else?

 

[KarenJF]

DH and I set aside 10% of our pay A MONTH to savings and try not to pay out more than we have to the G O V. But I somehow didnt set up our tax allocation correctly (started a new job this past year) so we are getting a fairly large return this year. I even had gone on the IRS website to figure out what my deduction and number should be for the forms but it was wrong. COnfusing

Soooo wooohoo, we are going to Disney!! It is enough for us to put half in savings as a CD (to start saving up for a new car, mine will be kaput probably in 3 or so years) and then to take the rest and pay for the room/board. Schweeet!!

 

[rcoaster809]

I bought my first house last year, so I am interested in seeing my refund this year. I'm not expecting much, but it should help pay for a Disney trip!

 

[Leshaface]

I bought my first house last year, so I am interested in seeing my refund this year. I'm not expecting much, but it should help pay for a Disney trip!

This is what i'm wondering too....we bought our first home in August of 2010

 

[nytimez]

I bought my first house last year, so I am interested in seeing my refund this year. I'm not expecting much, but it should help pay for a Disney trip!

This is what i'm wondering too....we bought our first home in August of 2010

Since mortgage interest is deductible, it usually leads to bigger refunds.

 

[Leshaface]

Since mortgage interest is deductible, it usually leads to bigger refunds.

Really???

Gives me something to look forward to then!!

 

[Mikes:)Mom]

Ok, so I’m one of the ones who can’t save! I try but I just can’t. I’m a single mother who barely makes ends meet. For years I tried to save my refunds. But honestly it felt good to HAVE money for once that we would spend it. We go to the movies like once a year. After a month or two we had nothing left and nothing to show for it. It was depressing. After tagging along with my mom to WDW (I can’t stand my mother) I decided that my son (then 14 years old) and I would use some of your refund to take your first family vacation ever. As soon as I got my refund I booked the trip. It was the BEST decision I ever made! For ten days I didn’t have to worry about bills, paying for food (we do the dining plan), or will I have enough gas for the week, plus I got to hung out with just my SON. Just because I live pay check to pay check doesn’t/shouldn’t mean I can’t take a vacation. (btw: My dad doesn’t see it this way) Taking trips to WDW or other places gives me something fun and exciting to look forward to all year. I just wish we started taking vacations sooner. This year I have to buy my son a car. Hopefully I can find something under $2000 and have enough left over for a trip to WDW.

 

[dolphindan1]

In the last 10 years refunds have paid for about 5 trips...I am not sure what I am doing this year...I have not confirmed a Disney vacation...I owe about 2000 on my truck so I may just pay that off... Who knows i am kind of an impulse spender...I know thats bad but its true...we have no credit cards and only a mortgage and 2 car payments so money is not a major concern...we eat out 6 days a week which is also a bad ide but with 2 kids playing sports and always practicing its just easier...plus I coach basketball for a school team and baseball for a travel team...we are never ever home...I could easily stop eating out and pay for a Disney trip...so who knows..

I do really want a nice internet 3-d tv of about 70 inches...

 

[ambertides]

We usually just about break even on taxes, but since DH received a bonus last year, we're getting a somewhat larger amount, but it's going to bills.

 

[clandrum]

Ok, so I’m one of the ones who can’t save! I try but I just can’t. I’m a single mother who barely makes ends meet. For years I tried to save my refunds. But honestly it felt good to HAVE money for once that we would spend it. We go to the movies like once a year. After a month or two we had nothing left and nothing to show for it. It was depressing. After tagging along with my mom to WDW (I can’t stand my mother) I decided that my son (then 14 years old) and I would use some of your refund to take your first family vacation ever. As soon as I got my refund I booked the trip. It was the BEST decision I ever made! For ten days I didn’t have to worry about bills, paying for food (we do the dining plan), or will I have enough gas for the week, plus I got to hung out with just my SON. Just because I live pay check to pay check doesn’t/shouldn’t mean I can’t take a vacation. (btw: My dad doesn’t see it this way) Taking trips to WDW or other places gives me something fun and exciting to look forward to all year. I just wish we started taking vacations sooner. This year I have to buy my son a car. Hopefully I can find something under $2000 and have enough left over for a trip to WDW.

I am single mom also. I have been in you boat. It looks like we both came to the same outcome. Not only is it great spending that week with your child but the rest of the year we talk and plan our next vacation. So it is something that brings us together throughout the year.

 

[GAGirlInVA]

Not us. Any tax refund we get is going towards our adoption fund.

 

[NYDisneyKid]

Quote:
Originally Posted by NYDisneyKid
i havent filed in 8 years


why so funny?

 

[Dacky619]

Put me in the no refund camp. I spend some time every year trying to balance out our withholdings so we don't owe much or get a big refund.

 

[RMulieri]

I am getting a sizable refund, but not spending it on Disney.goes right into savings

 

[Metro West]

I will spend the tax refund on renewals of my Disney and Universal annual passes but I will probably have to kick in some other funds too.

 

[Missytara]

Every year, my tax refund goes into my "trip fund" and pays for one of my trips throughout the year - usually Disney gets paid first.

 

[larryz]

...As soon as I got my refund I booked the trip. It was the BEST decision I ever made!

Inspiring words! They say you should always pay yourself first -- looks like you're paying yourself back for all your hard work, worry, and grief when you take your refund down to WDW.