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Tax Refund


Forum: Financial Planning and Budgeting

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  #1  
March 14th, 2011, 01:34 PM
mommy2Breana+Brandon's Avatar Platinum Supermommy
Join Date: Dec 2006
Location: PA
Posts: 39,401
What are you planning on doing with your tax refund?


Will any of it get saved?
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  #2  
March 14th, 2011, 07:31 PM
Platinum Supermommy
Join Date: Oct 2006
Posts: 32,940
We try not to get too much back (why give it to the gov't and then ask for it back?), but we got a little more back this year and it all went into savings.
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  #3  
March 15th, 2011, 11:55 AM
mommy2Breana+Brandon's Avatar Platinum Supermommy
Join Date: Dec 2006
Location: PA
Posts: 39,401
I am just afraid of oweing and I don't want that.

I was going to save all of it but all of it now is going towards new windows in the house.

I will be saving about 30% on our electric/heating/cooling bill!!!
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  #4  
March 15th, 2011, 03:11 PM
luvmygirls333's Avatar Super Mommy
Join Date: Jul 2009
Posts: 623
We are still paying off the CC, so put most of it towards that and then bought a couple of things we needed.
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  #5  
March 17th, 2011, 09:59 PM
Platinum Supermommy
Join Date: Aug 2005
Location: USA
Posts: 7,429
We didn't get much back since I'm a sub contractor and have to pay my own taxes but we got a bit back and it all went into our savings account.
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  #6  
March 18th, 2011, 02:32 PM
annem84's Avatar Mega Super Mommy
Join Date: Feb 2011
Location: South Dakota
Posts: 1,293
We bought a house so we are getting the tax credit for that (8K) and total we are getting almost 10K back.

$2500 to my parents for helping us in November-January with car bills and "stuff" (long story)

$500 to my sister for helping me personally with "stuff"

$2500 to the VISA credit card bill--will be then paid off

So $5500 "gone" -- we hope to save some but have a lot of house projects to get accomplished, etc.
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  #7  
March 18th, 2011, 06:34 PM
C&K'sMama's Avatar Platinum Supermommy
Join Date: Sep 2008
Posts: 6,150
We bought a car (which involved paying what we were upside down on the last one and paying cash for this one, but we really needed something with 4 doors and now we have it. Also since we got rid of the other one and paid cash for this one we now have one less payment each month). we paid all our credit card debt off (I have to make the last call this week to get it paid, but the money is there, so we are good on that).

none got saved, but we're now able to start trying to save.
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  #8  
March 23rd, 2011, 11:50 AM
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Join Date: Oct 2006
Location: Auburn, IN
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We are not getting a refund this year, we have to pay. Bad planning on our parts and jobs that are not secure.
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