NBR: Tax Return Spending

Aprilynn0206 · February 2011

DH's cousin and his wife have 4 kids and are constantly struggling. I mean, all year long they are living paycheck to paycheck and talk about how "poor" they are. They constantly argue about money. Don't get me wrong they come off like they're doing just fine to most ppl. But we're pretty close to them so we know otherwise. They got nearly $10,000 back 2 weeks ago- and it's already gone!! They did make some wise investments, new washer and drier set, vacuum, tires for their vehicles but it's the other stuff I could never see myself splurging on. Obviously it's their money and their choice. I just thought it was nuts. She spent $800 on a dslr that she will most likely never use beyond "auto." He has a jeep that he invested over $2000 in for a lift kit, tires, rims, etc. They spent $700 on a freakin' surround sound system. Can I tell you any time we've all tried to watch a movie with them they fall asleep before we're halfway through?

So that got me thinking...How are you spending your return? Are you being smart with it? or Is this your Christmas?

We are putting some $ toward a bigger vehicle, a drive a small car now and with #2 on the way it's just not going to cut it. We're getting a few small things for ourselves to "enjoy" the money and the rest is going into renovating our kitchen.

hersheykiss · February 2011

Unfortunately we will have to pay this year, probably around 3-4k (I hope that is all). It is all because of DH's LLC dispersements. But if we did get a refund we would put it in savings or use it to pay of CCs.

JLG95 · February 2011

Wonder if their kids are ever going to go to college.....

haleymay18 · February 2011

That is a pretty common trend. The explanation that I have come up with is that they are so used to saving and scouring for cash that it is hard for them to not go overboard when they have a little extra.

As for us, we aren't getting much but we stick that sucker right into savings.

slmcronelaw · February 2011

We are paying off a car loan, putting tires on my Highlander, and buying a new washer and dryer. The rest will go into savings for a down payment on a new house later this year. (we should get around $4,500.00 back)

haleymay18 · February 2011

JLG95:
Wonder if their kids are ever going to go to college.....

Please expand. I am confused.

4realyo · February 2011

it will go into savings for the next big "house project". basically the only thing we spend money on is home repairs/remodeling. last year we did our kitchen remodel. now im saving for a swimming pool/new landscaping.

shoeboxx · February 2011

plane tickets to see fil

$ in LO savings account

annual pool fee

ceilings fans in the bedrooms

pay off cc bill

save the rest

coconutbug · February 2011

Most of ours is being split up and put into our Roth IRAs and DS's 529 plan. We'll spend some of it on fixing the landscaping too, so our house will be easier to rent out when we move.

chels0120 · February 2011

We will put the majority towards DS's medical bills then put the rest in savings. We may take like $100 and shop a little but thats it.

The cousins you described sound like my BIL and SIL. They drive me insane!!!!!!!!!

clee2009 · February 2011

This makes me sad when I see this. Most of the money they received was probably from the government because of their income level and the reason the government gives that money is to help those that struggle to pay their every day expenses. Unfortunately I see people abuse the system all the time which is frustrating for those that really do need it and will use it wisely.

An old college roommate of mine is a struggling single mother. She receives a huge amount of money back from the government because of her low income. Guess what she has said she is doing with her money this year? Getting a boob job.... Indifferent I am sure that is much more important than putting the money in the bank to help get by for the next year.

Krisann79 · February 2011

We're paying down debt so that we can get 1 step closer to buying a home.

anabell0920 · February 2011

If they were wealthier would you be picking apart how they spend their money?

haleymay18 · February 2011

clee2009:

This makes me sad when I see this. Most of the money they received was probably from the government because of their income level and the reason the government gives that money is to help those that struggle to pay their every day expenses. Unfortunately I see people abuse the system all the time which is frustrating for those that really do need it and will use it wisely.

An old college roommate of mine is a struggling single mother. She receives a huge amount of money back from the government because of her low income. Guess what she has said she is doing with her money this year? Getting a boob job.... I am sure that is much more important than putting the money in the bank to help get by for the next year.

haleymay18 · February 2011

clee2009:

This makes me sad when I see this. Most of the money they received was probably from the government because of their income level and the reason the government gives that money is to help those that struggle to pay their every day expenses. Unfortunately I see people abuse the system all the time which is frustrating for those that really do need it and will use it wisely.

An old college roommate of mine is a struggling single mother. She receives a huge amount of money back from the government because of her low income. Guess what she has said she is doing with her money this year? Getting a boob job.... I am sure that is much more important than putting the money in the bank to help get by for the next year.

Oh please. ::Eyeroll:

teeah22 · February 2011

haleymay18:

JLG95:
Wonder if their kids are ever going to go to college.....

Please expand. I am confused.

Me too. A college fund isn't required to go to college. I went to school for 8 years without any money from my mom...

I'm also confused as to how they got sooo much back. If they're living paycheck to paycheck, wouldn't it be smarter to adjust their allowances in order to keep more of their money throughout the year?

And we have to pay in this year, so no refund for me. I'd rather not get one anyway, I like my money in my paycheck (unfortunately I just kept a little too much of it this year).

haleymay18 · February 2011

clee2009:

This makes me sad when I see this. Most of the money they received was probably from the government because of their income level and the reason the government gives that money is to help those that struggle to pay their every day expenses. Unfortunately I see people abuse the system all the time which is frustrating for those that really do need it and will use it wisely.

An old college roommate of mine is a struggling single mother. She receives a huge amount of money back from the government because of her low income. Guess what she has said she is doing with her money this year? Getting a boob job.... I am sure that is much more important than putting the money in the bank to help get by for the next year.

Oh please. ::Eyeroll:

Mr. & Mrs. RN · February 2011

anabell0920:
If they were wealthier would you be picking apart how they spend their money?

Considering how much I pay to the government every year, a portion of which goes to help those who are struggling, yeah, it concerns me that they would buy toys or boobs rather than using it for the intended purpose of clothing and feeding their families throughout the year. They could use this "payday" to decrease their need for additional assistance throughout the year and decrease some of the burden on our government systems that are struggling to meet their budgets year after year.

YAY! Baby K · February 2011

We are putting tile on the ktichen floor, a new mail box.. some towards the credit card and rest in savings

Aprilynn0206 · February 2011

anabell0920:
If they were wealthier would you be picking apart how they spend their money?

Obviously not, b/c we wouldn't have to hear them complain about how much they struggle for the 12 months- duh.

aocain02@yahoo.com · February 2011

We are paying off my car, putting sod in the front yard, and getting new front doors. If there is anything left it will go to savings.

haleymay18 · February 2011

Mr. & Mrs. RN:

anabell0920:
If they were wealthier would you be picking apart how they spend their money?

Considering how much I pay to the government every year, a portion of which goes to help those who are struggling, yeah, it concerns me that they would buy toys or boobs rather than using it for the intended purpose of clothing and feeding their families throughout the year. They could use this "payday" to decrease their need for additional assistance throughout the year and decrease some of the burden on our government systems that are struggling to meet their budgets year after year.

Who said anything about them getting additional assistance? And I LOVE how you are acting as if you write them a personal check every year. C'mon, you're reaching.

Que*Syrah · February 2011

Don't you need to know everyone's income first so that you can decide whether or not to judge their refund spending?

Que*Syrah · February 2011

Don't you need to know everyone's income first so that you can decide whether or not to judge their refund spending?

AutumnBride929 · February 2011

Nothing fun this year! It will just go into our checking account because we need to build our cushion back up. Plus, I'm going on (unpaid) maternity leave soon so it will sort of act as a reserve for that, too. Booo.ring.

LeahBeah1212 · February 2011

We are paying off my car and putting the rest into savings.

dbsk8dance+ · February 2011

We will be saving most of our refund. (you file a Return and receive a refund) We are going to buy a new computer, but the rest will go to savings.

We're also going to be adjusting our withholdings so that we do not get a big refund next year. We need the money month to month, not in one lump sum.

LauranBilly · February 2011

Im going to be getting back some. But i dont think i will be able to do much with it since my SO is a lazy person, and hasnt had a real job in years, hince i need to pay off some debts before we can EVER get caught back up. What i would LOVE to do with it is get new windows for the front rooms. ::sigh:: one day.. i keep telling myself one day. Sad

outnumbered · February 2011

Why do you feel the need to post about somebody's finances for strangers. That is an invasion of their privacy. Are you going to post about your cousin's annual exam next? How would you feel if she dissected your spending on Facebook?

clee2009 · February 2011

haleymay18:
Mr. & Mrs. RN:

anabell0920:
If they were wealthier would you be picking apart how they spend their money?

Considering how much I pay to the government every year, a portion of which goes to help those who are struggling, yeah, it concerns me that they would buy toys or boobs rather than using it for the intended purpose of clothing and feeding their families throughout the year. They could use this "payday" to decrease their need for additional assistance throughout the year and decrease some of the burden on our government systems that are struggling to meet their budgets year after year.

Who said anything about them getting additional assistance? And I LOVE how you are acting as if you write them a personal check every year. C'mon, you're reaching.

The type of person I am talking about is the person who gets back more than they even withheld from their paycheck. I am talking about the person that has a kid and receives 3,000 to 5,000 from the GOVERNMENT to help them make ends meet throughout the year. Honestly if the money is money you withheld from your paycheck throughout the year then do what you want with it. But if you are going on spending sprees with Government assistance (because that is what an earned income credit is) then you are using the system and the taxpayers dollar.

sarrahs · February 2011

teeah22:
haleymay18:

JLG95:
Wonder if their kids are ever going to go to college.....

Please expand. I am confused.

Me too. A college fund isn't required to go to college. I went to school for 8 years without any money from my mom...

Yeah, I know I could get judged for this, but my husband and I are not saving any money for our kids' college fund. If they'd like to go to college, they can do well in school and get grants and loans as well as work to pay their way through. If we won the lottery, of course we would help out our kids with college, but I am not sure that will happen. I don't judge parents who save for their kids' college, but I don't know why a parent would be expected to pay for their kids' college education.

Jocelyn0415 · February 2011

$10,000 in 2 weeks?! Holy shiit!

mxpxgirl13 · February 2011

We are getting $1,300 back and it is all going to pay off a chunk of DH's car loan. I don't need any of it since I don't have CC debt, and DH needs it a lot more than me. I do think it is unwise to be struggling and complaining for a year and then blow it all on entertainment, rims, etc. when there are other necessities of having 4 children.

only1erin · February 2011

we haven't filed yet so we don't know how much we'll be getting but we assume it'll be close to last year since we made about the same amount and paid the same amount in interest on our house. we do claim ds this year since we couldn't last year since he was a january baby.

we have a small spot on the roof we need to patch for sure. we also need to get the air ducts done to the rest of our house b/c right now when you turn on the heater it only goes to the rooms that dh routed them to b/c we knew we needed new ones so he took the other ones out. those 2 things for sure need to get done. after that we'll probably wait to see if i get pink slipped in march (i got pink slipped last year but then it got rescinded so we have to see if i get it again). if i do then we'll hold the money back to see what happens.

anabell0920 · February 2011

Aprilynn0206:
anabell0920:
If they were wealthier would you be picking apart how they spend their money?

Obviously not, b/c we wouldn't have to hear them complain about how much they struggle for the 12 months- duh.

I wonder if this cousin and his wife know how you really feel about them. It's their money why do you care how they spend it? If you hate their complaining do something about it otherwise get over it because right now you sound jealous. That's the only reason someone would biitch about how someone else spends their money.

haleymay18 · February 2011

clee2009:
The type of person I am talking about is the person who gets back more than they even withheld from their paycheck. I am talking about the person that has a kid and receives 3,000 to 5,000 from the GOVERNMENT to help them make ends meet throughout the year. Honestly if the money is money you withheld from your paycheck throughout the year then do what you want with it. But if you are going on spending sprees with Government assistance (because that is what an earned income credit is) then you are using the system and the taxpayers dollar.

Oh please. You honestly believe because you are a taxpayer that you get claim ownership in other people's refunds? Really? Oh the horrors of someone buying a new dryer with YOUR money. How could they? You should write them hate mail. Or maybe they could do your laundry for you since you bought the dryer for them and all.

Get over yourself. You are a real twat.

NewMrs07 · February 2011

I'm not sure we're getting any money back this year but if we did, it would probably go either to pay down DH's credit card (which is at 26%!!) or into savings. We depleted our savings when I was SAHM so now that I'm working I'm putting money away quickly, to try to build that e-fund back up. It felt really good to have an e-fund and we wouldn't spend all our refund unless we have money stashed away. Sounds like your friends are not good with managing money and will always be "poor" unless they make some sacrifices. Maybe they should read the Dave Ramsey books. I also like "Smart Couples Finish Rich", by David Bach. That's my favorite.

NewMrs07 · February 2011

haleymay18:
JLG95:
Wonder if their kids are ever going to go to college.....
Please expand. I am confused.

Hello! She means that if they are not saving money and spending all their tax refund, then they probably also don't have a college fund for their kids.

kimberlyk921 · February 2011

Ikea kitchen cabinets, dishwasher, fixing our bathroom window sill, and if any is left we are re-finishing out hardwood floors ourself. Like another poster said-we are trying to fix up our house as much as possible before TTC #2.

clee2009 · February 2011

haleymay18:

clee2009:
The type of person I am talking about is the person who gets back more than they even withheld from their paycheck. I am talking about the person that has a kid and receives 3,000 to 5,000 from the GOVERNMENT to help them make ends meet throughout the year. Honestly if the money is money you withheld from your paycheck throughout the year then do what you want with it. But if you are going on spending sprees with Government assistance (because that is what an earned income credit is) then you are using the system and the taxpayers dollar.
Oh please. You honestly believe because you are a taxpayer that you get claim ownership in other people's refunds? Really? Oh the horrors of someone buying a new dryer with YOUR money. How could they? You should write them hate mail. Or maybe they could do your laundry for you since you bought the dryer for them and all.
Get over yourself. You are a real twat.

Wow you sound like winner. Honestly if you don't find using the system wrong then you need to check your own values. Ridiculous.

RaeAnt · February 2011

Paying off a credit card and DH's medical bills. What sucks is we are only getting about 1/2 of what we normally do,(I think because of only having 1/2 a year of mortgage interest vs a full year) so the bill I REALLY wanted gone, we'll still have.

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