GTKY- Tax refund plans?

telicious2 · February 2012

How do you and H divvy up your tax refund money? Do you have any plans already for this year's tax refund?

landosmommy · February 2012

It went straight into the bank, saving it for a downpayment on a house.

Macey6607 · February 2012

Every last cent went into our joint savings account for a baby!!

KdgTeacher · February 2012

MH and I will each get $75 to do with what we want.

State refund--pay down last CC

Federal--into moving/baby fund

telicious2 · February 2012

landosmommy:
It went straight into the bank, saving it for a downpayment on a house.

Nice! I hope you are that much closer to your goal.

cellardoor7785 · February 2012

I used part of ours to pay off the rest of my car. We'll probably pay off a few more things like that and put the rest in savings.

Ok, maybe I got my hair done too.

telicious2 · February 2012

KdgTeacher:
MH and I will each get $75 to do with what we want.

State refund--pay down last CC

Federal--into moving/baby fund

I hear you on paying off cc. We can pay off our cc that has interest and still have some leftover to split between us. But our question is how do we split the remainder. DH got $2100 for being in school but I am the one who brings home more money. I don't want either of us to feel cheated out money we deserve.

oliveoil695 · February 2012

We usually don't get a refund. That bring said, my FIL does our taxes and hinted that we might get one this year

If we do, we will likely save some and spend some on our long weekend trip coming up this spring.

kleigh926 · February 2012

We are probably going to put most of it into our new car fund (well, new to us). The rest, we will most likely put towards the mortgage and school loans with maybe a little bit to spend on something fun.

LIQueen · February 2012

oliveoil695:
We usually don't get a refund. That bring said, my FIL does our taxes and hinted that we might get one this year If we do, we will likely save some and spend some on our long weekend trip coming up this spring.

It is best not to get a refund. I means the government was not able to charge you interest on your money You got more straight forward back during the year that was not charged any interest. I usually do not get much back either(compared to friends) it is better that way, but some people do like getting a refund because it is a way to save money to pay something off that they normally would not save on their own.

KdgTeacher · February 2012

rea1687:
KdgTeacher:

MH and I will each get $75 to do with what we want.

State refund--pay down last CC

Federal--into moving/baby fund

I hear you on paying off cc. We can pay off our cc that has interest and still have some leftover to split between us. But our question is how do we split the remainder. DH got $2100 for being in school but I am the one who brings home more money. I don't want either of us to feel cheated out money we deserve.

We're a "our money" house. MH makes more, but a lot of our deductions were due to me (medical, professional groups, job, etc). We get the same amout regardless of how things worked out piece by piece

KdgTeacher · February 2012

LIQueen:

oliveoil695:
We usually don't get a refund. That bring said, my FIL does our taxes and hinted that we might get one this year If we do, we will likely save some and spend some on our long weekend trip coming up this spring.

It is best not to get a refund. I means the government was not able to charge you interest on your money You got more straight forward back during the year that was not charged any interest. I usually do not get much back either(compared to friends) it is better that way, but some people do like getting a refund because it is a way to save money to pay something off that they normally would not save on their own.

Hmm

I'm prrreeettty sure I've been saving for baby/moving/etc on my own with or without the refund.

I'm not denying not getting a refund is the best option (and certainly better than owing), but really? People wouldn't save on their own without a refund?

LIQueen · February 2012

KdgTeacher:
LIQueen:

oliveoil695:
We usually don't get a refund. That bring said, my FIL does our taxes and hinted that we might get one this year If we do, we will likely save some and spend some on our long weekend trip coming up this spring.

It is best not to get a refund. I means the government was not able to charge you interest on your money You got more straight forward back during the year that was not charged any interest. I usually do not get much back either(compared to friends) it is better that way, but some people do like getting a refund because it is a way to save money to pay something off that they normally would not save on their own.

I'm prrreeettty sure I've been saving for baby/moving/etc on my own with or without the refund.

I'm not denying not getting a refund is the best option (and certainly better than owing), but really? People wouldn't save on their own without a refund?

I am not saying it is the only way to save. People save with or without a refund. I have just saying that a lot of people like getting the refund because it is a mindless way to save. You do not have to think about it during the year and then when the money comes you can pay something off or use it how you want.

oandmplus1 · February 2012

Some is going towards plane tickets for DH and I for trips we have planned this year and the rest is paying down our cc

happilyeverafterxo · February 2012

We are saving ours to side our house

Late Spring/Early Summer

holly321 · February 2012

It is going towards credit card debt and medical bills. We need to pay off the 1st before we have a 2nd.

JBM1204 · February 2012

Last year we used our return towards a big trip to Great Britain. This year, if we get anything back (I have a feeling we won't), we'll probably put some towards cc and a little bit towards a long weekend trip.

Indynurse12 · February 2012

Ours just goes in the bank - nothing exciting.

telicious2 · February 2012

LIQueen:
KdgTeacher:
LIQueen:

oliveoil695:
We usually don't get a refund. That bring said, my FIL does our taxes and hinted that we might get one this year If we do, we will likely save some and spend some on our long weekend trip coming up this spring.

It is best not to get a refund. I means the government was not able to charge you interest on your money You got more straight forward back during the year that was not charged any interest. I usually do not get much back either(compared to friends) it is better that way, but some people do like getting a refund because it is a way to save money to pay something off that they normally would not save on their own.

I'm prrreeettty sure I've been saving for baby/moving/etc on my own with or without the refund.

I'm not denying not getting a refund is the best option (and certainly better than owing), but really? People wouldn't save on their own without a refund?

I am not saying it is the only way to save. People save with or without a refund. I have just saying that a lot of people like getting the refund because it is a mindless way to save. You do not have to think about it during the year and then when the money comes you can pay something off or use it how you want.

I do like getting a refund because it is like "cashing" out a savings account or finding money you didn't know you had.

jenaw84 · February 2012

In the past we have just saved it for whatever may come up, this year will be the first time filing married so not sure what our refund may look like. If we get anything back, it's going towards the down payment on the house that we are hopfully going to sign paper work on to start building next month!

HopeNotLost · February 2012

About 2/3 of it is going to pay off all our credit card debt (WOOHOO!!!!), then we are buying a new bedroom set and repainting our bedroom (the previous tenants were clearly color blind), and then the rest will go into savings.

nyc7781 · February 2012

It's our first time filing while married. I usually end up paying back. IF we get anything back, it will go towards paying off our credit card

PeonyPumps · February 2012

100% of it went into the bill we had from our air conditioner. Our old one had the best timing of breaking in the middle of July last year when the ILs were out for a visit. We put it on a no-interest for a year plans, so thankfully the taxes this year helped us pay it off, no interest at all!

JumpAroundBucky · February 2012

We're paying off some of our CCs and (hopefully) going to Mexico!

kelle017 · February 2012

Dh and I put some towards my student loan, some towards a few misc things for the house (new bathroom fan, recessed lighting, and new storage shelving) and dh bought a gun.

fiestlylil1 · February 2012

Most of our refund will go into savings. DH wants a new air conditioner unit, and I want to use some to pay off a credit card. The sooner the cards are paid off, the sooner we can get to TTC #2. I want to make sure there's a bit more cushion in our income before we go for it.

lovepink8 · February 2012

JumpAroundBucky:
We're paying off some of our CCs and (hopefully) going to Mexico!

If you dont mind me asking what part of Mexico are y'all going to? My DH & I have been to Cancun & Cabo San Lucas, & they are both beautiful! Wished we could go back.

DH & I paid off some bills & are taking a vacation to the mountains

JumpAroundBucky · February 2012

lovepink8:
JumpAroundBucky:
We're paying off some of our CCs and (hopefully) going to Mexico!
If you dont mind me asking what part of Mexico are y'all going to? My DH & I have been to Cancun & Cabo San Lucas, & they are both beautiful! Wished we could go back.
DH & I paid off some bills & are taking a vacation to the mountains

We'll probably just be heading to one of my regular resorts in Riviera Maya (a little south of Cancun-away from the spring breakers). Just a quick there and back for some much needed R&R!

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