Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What are you planning to do with your tax refund?
For those of you who will or have received a tax refund, what do you plan on doing with it? Are you the type to save it or pay off some debt? Or are you more likely to take a trip or buy something nice for yourself? Tell us!
157 Answers
- Anonymous8 years agoFavorite Answer
I would love to spend it on a vacation, but not for this year.. I have to save my money for future use. I'm not the type to spend my money as soon as I get it. Next year I will be going on a vacation to Florida where then I will spend my money on vacation.
As of this years tax refund money.. I'm saving it up for college, future use, emergency use, and gas money with the way gas prices are rising.
Source(s): Always be prepared to spend your money on useful things because you don't know what tomorrow may bring. - MircatLv 78 years ago
I received some unplanned monies earlier. It came in on a Monday morning and I didn't want to keep it around taunting me for other things, so it went out Monday afternoon and paid off all my credit cards. The tax refund will be going for some new flooring in my home. Lining up my ducks for when I retire.
- sewgoodmamaLv 78 years ago
My federal tax return is getting confiscated by the State of California, to pay off back taxes owed. I have had a payment plan agreement in place for three years, and pay $450 a month to California, but apparently they want their money now. What's cool is after I file, I should be done paying the state!
- josephz2vaLv 68 years ago
Credit card payments. There's nothing more important in your life than settling debt. Because it's your children who would carry on your debt burden if you don't pay it off. Same thing for housing mortgage if you haven't done that fully.
Besides most refunds are very small this year due to the Sequester robbing our checks.
- How do you think about the answers? You can sign in to vote the answer.
- walmeisLv 78 years ago
I really dislike being asked "what are you going to do with your tax refund?"
First of all, the question assumes I mismanage my tax payments to the extent that I will get a refund. Doing so means I have lent money to the government interest free. If ever there was a patently unworthy charity, the U.S. government is it.
Secondly, the question implies that maybe I should do something noteworthy, interesting, or foolhardy with my money. Of course, the sensible thing to do with extra money is pay down high interest debt, pay extra on low interest debt, or save it. Not very sexy—but it is the sensible course of action. Maybe I should answer with "take a trip to Jupiter" so I won't be asked again.
Lastly, I consider my finances private and the question is equivalent to asking how I usually spend my money. MYOB!
- 8 years ago
Bought a 2000 Honda accord and used the rest to pay off a year of car insurance. Then had a nice $30 lunch a TGI Fridays with my husband. Money spent very well :-)
- OzLv 78 years ago
When I saw the amount of my tax return I immediately thought of paying down some debt which I will. There is a very small amount left for a tax present for me but I am reconsidering the expense now. I am a Federal employee that will be affected by the sequestration and may need some bucks later.
- 8 years ago
I'm buying large quantities of ramen noodles, tea, cereal, and maybe one trip to a restaurant since I haven't been to one in the last six months.
Also paying off some bills/mortgage.
Living and food expenses always come first.
- I know for sureLv 68 years ago
We spent it on a weeklong vacation to Florida. Refund covered about 1/2 of the cost.
- MoiLv 48 years ago
Depends on how much the refund is? I would save it and have a short Holiday. No Debts.
- 8 years ago
Me and my boyfriend are building a chicken coop and a very large garden with lots of fruits and vegetables. Garlic is currently germinating outside. I'm going to take my boyfriends family out too. I also need a set of work boots. We will gather the eggs from the coop when the chickens start to lay. Hopefully this 500 dollar expense will pay for itself in the amount of eggs we gather.