Tuesday, February 16, 2010

Tax Refund Money!

I was sitting here thinking about my refund from my taxes. I started working on them a couple weeks ago and they aren't finished yet. I kinda just wanted to get an idea of what I may be getting back. Looks to be around 1,100 which isn't bad considering I had more exemptions this year. Of course I intend to put all the money towards debt but I am just curious as to what the rest of you might do......

If your going shopping, saving, or paying debt tell me about it! I would love to hear!


Carrie @ Make Mine Happen said...

Well, after increasing our exemptions to the point where we couldn't increase them any more legally, we still end up with a refund. Because we had a heap of tax credits, we get $1760 back from Federal. We have a bank loan, one of a few debts we have, that is... $1760. Seriously. Almost to the penny.

I am taking that as a cosmic sign that it's time to pay that off and save the $189 every month, putting that toward our debt snowball!

We are putting our tiny state refund into the e-fund to buffer some auto repair $$ we took out.

Divine and Debt Free said...

sounds good carrie, I am shocked I still get a refund but im not mad either lol, im so sad to see it go to pay off debt but I promise this is it like Michael Jackson!! lol

Anonymous said...

Because I was so far in the hole financially that when I did get my refund which was about $1250. I could've paid off a card and a bank line of credit but I wanted to make a dent in several bills plus treat myself a little.

So I paid my car insurance, half of a past due ATT cell phone bill(since switched carriers),deposited a year's worth of minimum payments in another account after a creditor agreed to take a smaller payment for year as long as it was auto debited, paid on 4 other accounts.

Now for treating myself I decided that it had to be something I that I needed that benefited me. So my skin has been horrible because I haven't been able to afford the products/items. So I shopped ebay and got several items and paid cash instead of using paypal credit. Bought a sweater for 75% off. Because I bought such quality items when I used credit cards, I haven't had to buy clothing since I'm pulling out those clothes to wear to my temp job. I have several hundred dollars left over and I'm leaving it alone in that account for emergencies.

Anonymous said...

well what do you know just got a call to pay off that cell bill before collections sends it off to my credit report. Just paid it out even though I don't really care about the credit report anymore.

Anonymous said...

I "borrowed" $4000 from our LOC to top up our retirement contributions before the deadline yesterday (not sure what the rules are in the US, but in Canada we can contribute until Feb 28 and have it count on our 2009 taxes). With the $7500 already done during the year for a total of $11500 we're looking at a refund of almost $4000 for my husband and about $500 for me. So that will go directly to paying off the LOC. Getting our contributions to that level got my husband down one tax bracket, so the refund is much larger by temporarily running up the LOC. Once the LOC is paid off, any extra will go toward an mortgage payment.

This year we're going to get organized about regular contributions rather than doing this last minute scramble.