Tax Return?

[Anonymous]

Do any of you plan on paying your credit cards down with your tax return. I then racked up 1100 Dollars on  my credit cards with xmas shopping an as soon as i get my tax return i'm paying my cards off.

[grneydangl]

I plan on it.  I'm getting extra money from my student loan and paying off my $5000 Capital One and then tax money is going to Gap, Macy's, Hooters and HSBC

[Anonymous]

me too, i'm  using my tax refund to pay down my credit card balance.

[arjames01]

I plan on taking 1/2 and putting it my savings account and the other 1/2 on my credit card!

[Susyflower]

I am definitely using my tax refund to pay off the credit cards I used at Christmas.  That way I can start chipping away at the card I have a BT on.  I want 0 % CC debt in '09.  I just bought a house so I also want to take the money I'm saving in credit card payments to go towards home improvement projects.

[Anonymous]

Tax refund + new homebuyer tax credit thingy = car paid off two years earlier than expected. 

Woohoo - I am looking forward to tax-filing time!

[Anonymous]

I'm not planning on a tax return this year.  Between my part-time job who doesn't take out the right percentage of taxes, and the economic stimulus from earlier this year, I'm just hoping to not owe money. 

However, if I do get lucky and get one.  I will not be using it on my last remaining 4K of CC debt, because I already will be able to pay it off before the 0% ends at the end of February.  

What I would do is either put some of it away for my one annual vacation, and the rest in my house fund.  I'm hoping to buy my first house in April/May.  

Wow, this is the first year I won't be putting any of that on CC debt.  Feels good!

[Dallasgirl]

I wished.   Every year my tax refund gets earmarked to payoff off my high homeowners insurance that State Farm charges it's Texas residents.  It comes due right about the same time my tax refund arrives.  

[Mark_in_Pasadena]

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@Anonymous wrote:

Tax refund + new homebuyer tax credit thingy = car paid off two years earlier than expected. 

Woohoo - I am looking forward to tax-filing time!

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Don't forget the new homebuyer tax credit is just an interest free loan that you have to pay back to Uncle Sam over 15 years.  It's still a nice deal, since you're basically using it as a 15 year 0% Balance Transfer of your car loan to the Uncle Sam! 

Smart way to go, instead of spending it frivolously!

[Anonymous]

Credit Card will have to wait ..I have 2 huge palm trees near the pool i have to have removed.($2500.) ouchhhhh