Tax returns

JamiesWife2010 · February 2013

What do you typically do with your income tax returns?

In the past, we've usually done some stuff around the house and were pretty frivolous with rest.
This year, I'm on the road to being debt free. So, some money is going to help pay off some debt and the rest is going into savings.
I wish I would have been smarter with money before LO was born.

Chan4dra04 · February 2013

I never ever carry credit card debt. Until I became a SAHM and the money ran out in our joint bank account. We normally have the money in one account, but DH had to open a credit union account when we were going to buy a boat (that fell through so we decided to have a kid instead) and we haven't switched his deposit back over to our joint. Anyways, I think our return will completely cover my credit card debt that I incurred that last 4 months. BOO! But at least it will be off my shoulders.

We need to get the house in order because we badly want to sell this place. So whatever we can afford to throw away we'll put into the house. At least it will help sell, probably for nothing more than we put into it, but if it helps it sell then it's worth it. We'll already be selling it for $20K under what we bought it for. BOO, again!

Good thinking on going for debt free, JW! It's hard work but it feels so much better without that stuff looming.

gracefulruby33 · February 2013

Yep, paying off debt here. We would love to take a vacation, but that can wait for now.

Rosebud2587 · February 2013

Paying off debt. We are going to use a very tiny chunk of our return to buy a convertible carseat for DH's truck since we still have the infant one in there.

JamiesWife2010 · February 2013

Chan4dra04:
I never ever carry credit card debt.nbsp; Until I became a SAHM and the money ran out in our joint bank account.nbsp; We normally have the money in one account, but DH had to open a credit union account when we were going to buy a boat that fell through so we decided to have a kid instead and we haven't switched his deposit back over to our joint.nbsp; Anyways, I think our return will completely cover my credit card debt that I incurred that last 4 months.nbsp; BOO!nbsp; But at least it will be off my shoulders. We need to get the house in order because we badly want to sell this place.nbsp; So whatever we can afford to throw away we'll put into the house.nbsp; At least it will help sell, probably for nothing more than we put into it, but if it helps it sell then it's worth it.nbsp; We'll already be selling it for 20K under what we bought it for.nbsp; BOO, again!nbsp; Good thinking on going for debt free, JW!nbsp; :nbsp; It's hard work but it feels so much better without that stuff looming.

Its not fun when all the money goes to grown up things. But, hopefully, you can get the credit card done! Good luck selling the house..sucks about the loss, but I'm sure it will be nice to move on.
I'm already on a "high" over the paying off debt thing. It will be great to have the extra money that we are just "throwing away."

Natty13umppo · February 2013

Before DH and I got married (and I filed on my own), I always got money back but I don't ever recall making a "tax refund" purchase. My refunds were never huge and they just went into my checking account. Boring, I guess. And I can't even say I was practical and put it my 401k or savings!

Once we got married, I think we always owed. Boo! I *think* last year we might have gotten some back b/c of DD?? I don''t remember to be honest - DH was in charge of the tax stuff last year - LOL.

It will be interesting to see what happens this year...I stopped working (though I had a couple months of income since I technically didn't quit til Feb and I think I had some vacation paid out) and we have DD and DH started a new job so.....I have no idea where we are with taxes this year! But if we get any back, it will probably be used for house maintenance stuff - not fun stuff. That list is looooooooooooong.

mbgreenwalt · February 2013

We are paying off all of DD2's medical bills...yay.

purple4u · February 2013

Pay off cc bill since I haven't worked for almost 8 months yay for new Jo starting Monday. Put rest in savings!!

knottie198f1ac43570b6c2 · February 2013

We are going to do some work on our house landscaping, etc, get caught up on bills and pay off some debt. I might buy myself a cricut machine and some glasses. Woohoo!

purpleXdandelion · February 2013

We are using it to pay off debt as well. We started Dave Ramsey a couple weeks ago, and that has really lit a fire under our butt to get our spending under control.

lilpenguingurl17 · February 2013

DS and I are hopefully taking a super mini vacation to meet up with some friends at the end of the month. Some will be going to X to finish paying back rent and some to my ex-landlord to pay off future rent for X's place [unless I can find a new tenant]. I am hoping to save some so that DS and I can move out of my mom's place.

AmberDerek · February 2013

DS is having surgery this monnth and I am having surgery next month. The return will pay for those out of pocket maximums.

gina2433 · February 2013

Oh gosh, I hope we don't have to pay!!

JamiesWife2010 · February 2013

purpleXdandelion:
We are using it to pay off debt as well. We started Dave Ramsey a couple weeks ago, and that has really lit a fire under our butt to get our spending under control.

I'm following the Dave Ramsey plan too. I kinda skipped over the savings part though. The tax return will help build our savings, though.

JamiesWife2010 · February 2013

AmberDerek:
DS is having surgery this monnth and I am having surgery next month.nbsp; The return will pay for those out of pocket maximums.nbsp;

Good luck with the surgeries.

Chan4dra04 · February 2013

JamiesWife2010:
purpleXdandelion:
We are using it to pay off debt as well. We started Dave Ramsey a couple weeks ago, and that has really lit a fire under our butt to get our spending under control.
I'm following the Dave Ramsey plan too. I kinda skipped over the savings part though. The tax return will help build our savings, though.

Did you girls actually buy something to get the 'rules' to DR? I was thinking about looking into it and following it loosely in order to see if we can save on our month to month expenses. We don't owe on anything besides my CC from the last few months which isn't much, and we have our mtg, but I know we spend stupidly throughout the month.

JamiesWife2010 · February 2013

Chan4dra04:
JamiesWife2010:
purpleXdandelion:
We are using it to pay off debt as well. We started Dave Ramsey a couple weeks ago, and that has really lit a fire under our butt to get our spending under control.

I'm following the Dave Ramsey plan too. I kinda skipped over the savings part though. The tax return will help build our savings, though.
Did you girls actually buy something to get the 'rules' to DR?  I was thinking about looking into it and following it loosely in order to see if we can save on our month to month expenses.  We don't owe on anything besides my CC from the last few months which isn't much, and we have our mtg, but I know we spend stupidly throughout the month. 

I'm just doing the "baby steps." Here is the site, https://www.daveramsey.com/mobile/babysteps/
Sorry its not clicky, I'm mobile.
The baby steps have been a good start for us. I like the idea of snowballing the debt until its gone.

AmberDerek · February 2013

JamiesWife2010:
AmberDerek:
DS is having surgery this monnth and I am having surgery next month.nbsp; The return will pay for those out of pocket maximums.nbsp;
Good luck with the surgeries.

Thank you!

Chan4dra04 · February 2013

Thanks, JW! Going to check it out now...

Jenny952 · February 2013

mbgreenwalt:
We are paying off all of DD2's medical bills...yay.

Yep, me too. I have an $1800 bill from her surgery in November that I just got. Fun, fun. Maybe we'll have enough left over to get take-out.

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