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Tax return money


Forum: Financial Planning and Budgeting

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  #1  
August 19th, 2011, 01:37 AM
JessP's Avatar Lovin life and family
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If you get money back does it have a place to go before you ever see it?
Does it change from year to year?
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  #2  
August 19th, 2011, 03:01 AM
Happy Song's Avatar Nicole
Join Date: Jan 2010
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Jessi I am so tempted to say "we are going to DisneyLand!" We are going to spend that money as fast as we can, on eating out, lavish gifts and world travel.

Pop the reality is we have to use that money for whatever is on fire. My last return should have paid property taxes instead it went to truck repairs.
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  #3  
August 19th, 2011, 08:21 AM
Platinum Supermommy
Join Date: Oct 2006
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It goes to savings
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  #4  
August 19th, 2011, 09:36 AM
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It goes to pay off debts or whatever emergency repair needs to be done.
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  #5  
August 19th, 2011, 11:14 AM
JessP's Avatar Lovin life and family
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Last year we put part in savings and paid off debt with another part. This year we are still torn. We will probably do the same thing though. Part will go into savings to get us to that 6 months worth of income range and the rest will go towards paying off the trucks.
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  #6  
August 19th, 2011, 01:25 PM
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Location: USA
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We don't get a ton back, but what we do get back goes straight into our savings account. We have nothing to pay off and we have our emergency fund, so any extra we have goes into our savings to build up our 12 months worth of bills.
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  #7  
August 19th, 2011, 08:39 PM
Hazel's Avatar Mega Super Mommy
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At least some to savings, some to bills if we need to pay down debt or just get ahead on something, and then on whatever household things we needed but not badly enough to buy them sooner
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  #8  
August 23rd, 2011, 09:18 PM
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It will go to either rebuilding our savings (which we are using right now) or else repaying the savings loan that we will be taking to buy a car. So its already "spent" . We are getting one due to the baby but no clue the magnitude.
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  #9  
August 24th, 2011, 02:44 AM
ashleighgurl's Avatar Loving Wife and Mommy
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Location: Arizona - formally, Michigan
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I'm not sure what we are going to use our next one for. Two years ago, we spent it on our 1 year wedding anniversary. Probably not the smartest thing, but we splurged. Last year, we used it to move into our new place and for truck repairs. I'm hoping to put our next one into an emergency fund, but we'll see if there are any repairs that need to be done.
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