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Taxes: What will you be doing with your refund?

post #1 of 45
Thread Starter 
yep, another tax thread from me. I've been pondering what to do with my refund, so was interested in what everyone else will be doing with theirs.

If I get the "stimulus payment" I'll be paying off some debt AND getting a LR! If I don't, then it'll just be the debt and the LR will have to wait

post #2 of 45
Nothing, DH and I only got back one dollar and five cents!!!!
post #3 of 45
What refund?
post #4 of 45
Our refund will pay the last term's tuition payment at our daughter's college. Private college; substantial refund.
post #5 of 45
and here I am with another answer I only got $79 back so that just got absorbed rather quickly and as far as my stimulus refund, I'm not sure, it will most likely go towards bills, I'm going to try to save as much of it as I can becuase I want to get an elliptical machine this year
post #6 of 45
It will go in savings. I'm getting a substantial amount back, and I'd rather just have it go in savings because I really don't need anything. I would like to get an elliptical or treadmill but we live on the 3rd floor of an apartment building and don't really have anywhere to put it. If we don't get that, it will probably end up going towards student loans.
post #7 of 45
It's going into a money market but going towards some bills.
post #8 of 45
I had to vote "something for others" because I'm using mine to get my new kitten to ultimately help my cat. Not to mention all of the new cat toys and furniture I've been buying. Somebody stop me! This is what happens when you have to wait to get your new kitten, you just keep spending money to pass the time.
post #9 of 45
lol you forgot to add , dont get a refund lol
i owe 1600 to federal. and get 19 dollars back from state. guess i will put that in the gas tank lol
post #10 of 45
More than likely I won't get a federal return back. I had to make a withdrawal on my Thrift Savings Plan and they only took out 10% in taxes.

I should get some money back from state and will use it on bills.
post #11 of 45
I'm not sure yet, I don't even know what I'm getting back yet
post #12 of 45
We had a huge tax bill last year because of the stupid double tax laws - in the US we pay tax on both US and Australian earnings (and Australia also taxes us on Australian earning, and somehow at sometime we get to claim it back...), and we hadn't paid tax on some Australian earnings (the tax year runs differently), so we paid whopping tax over here.

I imagine the same is going to happen this year. So we'll be pulling from the savings account!
post #13 of 45
I got a pretty good federal refund back this year. My car needs new tires, but the rest will go into savings. Something usually pops up that requires the money I try to save, so I don't expect it to stay in there long!
post #14 of 45
Well I received my refund 3 weeks ago and most of it went into savings.
post #15 of 45
Mine is going straight into savings. Better off there than me spending it.
post #16 of 45
Originally Posted by luvmycat1 View Post
Nothing, DH and I only got back one dollar and five cents!!!!
I am jealous of people that get refunds, and I miss the days of getting money back
post #17 of 45
We were on our honeymoon cruise when I got my tax return electronically deposited in the bank. So there was twice as much money in the account than when we left which worked GREAT! We paid our credit card off for the month, as well as the "bill" we racked up on the cruise with that money. Today we bought a used laptop (which I'm on now ), and I've deposited $100 in savings to start saving $$ for a cruise next year. And there is still money in our account left to put in our money market (which is our house savings money). Not all of that was tax money, but all the money used for the CC bill and cruise was I still have another $740 on the way from the state also.
post #18 of 45
I got a fairly good refund this year which I just put in the bank..I am planning on taking a few days off in March so I may use some of it them to go shopping in the city for a day..

I actually had all my bills caught up and was debt free for the first time this year so it's kind of cool just to have the extra money in the bank..
post #19 of 45
we are gonna use our refund to pay off some bills, if we get the stimulus refund roman wants a xbox360, and i mentioned tonight i want one of those outdoor kennels for Dixie to play in durring the day, i have a fenced yard but the fence is pretty bad and i dont trust it at all, so we might get one of those kennells so she can be outside and play even when i am not standing there with her.
post #20 of 45
I have a truck waiting for me when I get mine back, assuming I get back the amount I think I will. It is an '85 Chevy with a newly rebuilt motor and transmission from a guy that works at the local custom speed shop. If I have enough left, I am going to paint it from the nasty brown it is to pink. My SO will not drive a pink truck, and every time I let him drive something of mine it either gets stolen or broken beyond our means to repair. Or maybe a nice lavender, hmmm.....
post #21 of 45
Vacation money for Florida (which was a couple of weeks ago) and Alaska in June!
post #22 of 45
Originally Posted by Trouts mom View Post
I am jealous of people that get refunds, and I miss the days of getting money back
post #23 of 45
Good mattresses!!!!!

This is our first place together, and neither one of us has furniture!
No table, no couch, no bed!
(Don't feel too bad for us, we eat out more than we ought!)
post #24 of 45
i'll probably use it to pay towards the bills
post #25 of 45
I had to click Other!! I got mine back already and I used it to pay bills in advance!! I paid my house off till August! I also paid ahead on phone, cable and everything else that was possible! Of course now it feels like I flushed 8 grand down the drain... but what do ya do?? This way I dont have to worry about late payments and such, and the money we get on paydays can be used to live off of and spend as we please!
post #26 of 45
We've used a small portion of it for personal spending, and the rest is getting placed in our money market account. Save, save, save!!!
post #27 of 45
we'll be paying off debt.

if there's anything left over it will go towards nabu's dental (and if we get a stimulus check, part of that will also go towards nabu's dental). the rough estimate is $300-$400.
post #28 of 45
I will be putting mine into a savings account. It might be used later for summer classes but if my dad pays for my summer school it will most likely stay in the bank.
post #29 of 45
Well its will be an interesting tax yr for us. Our income will show a drop as my severance ended in late 2006. We already put the max in for a roth IRA so we might not actually have to pay in the feds!! We haven't gotten all our filing info from our investments so this is a guess at this time!!
We usually get a small state refund which offsets the federal.

As for the "stimulus" money we are doing some remodeling in the family room so that money will go into savings until needed.
post #30 of 45
I don't get a refund. I OWE them money.

DH is putting his in the money market account we're opening so that it will acrue interest quickly
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