@Anonymous wrote:Haven't done my state tax yet, but I'm getting $1700 back from the feds. I don't know if that's a lot or not (this is the first time I've had to file taxes), but it's equivalent to a little more than 1.25 months pay for me.
It's basically the start of my very first savings account too. I'm 23, 24 in a few months. How pathetic is that!
If you're able to put some of your tax refund into savings and not all of it toward CC bills (you could have some CC 0%, which to me makes sense to take advantage of and carry) at the age of 23, I'd say that's NOT pathetic at ALL! I think it's a good sign myself (kind of shows in your scores I think, which is good).
I had my first CC at around 19. I had my first savings account (a passbook account, I still have the book) by the age of 7. I started doing my own taxes as a teen, then had to talk to the family accountant (after talking to dad) when I couldn't understand why I owed around 13 grand (early 20s), I forgot (more like didn't know about) an important deduction and ended up only owing around 800. I tell younger people I know to consider their refund like a savings account and not "fun" money like so many see it to be. To pay down CC debt with it makes a lot of sense, to have some left over after that to go in an actual savings account, is very impressive 
@RyVision wrote:
@Anonymous wrote:Haven't done my state tax yet, but I'm getting $1700 back from the feds. I don't know if that's a lot or not (this is the first time I've had to file taxes), but it's equivalent to a little more than 1.25 months pay for me.
It's basically the start of my very first savings account too. I'm 23, 24 in a few months. How pathetic is that!
If you're able to put some of your tax refund into savings and not all of it toward CC bills (you could have some CC 0%, which to me makes sense to take advantage of and carry) at the age of 23, I'd say that's NOT pathetic at ALL! I think it's a good sign myself (kind of shows in your scores I think, which is good).
I had my first CC at around 19. I had my first savings account (a passbook account, I still have the book) by the age of 7. I started doing my own taxes as a teen, then had to talk to the family accountant (after talking to dad) when I couldn't understand why I owed around 13 grand (early 20s), I forgot (more like didn't know about) an important deduction and ended up only owing around 800. I tell younger people I know to consider their refund like a savings account and not "fun" money like so many see it to be. To pay down CC debt with it makes a lot of sense, to have some left over after that to go in an actual savings account, is very impressive
Thank you
I actually don't have any CC debt right now. Just a few bucks from buying lunch the other day. I just finished paying off all of my balances last week and it feels great.
I'm going to put this $1700 ($1689, actually) in the bank along with most of the paycheck I'm getting tomorrow.
I paid off my target, walmart, 2 cap1's, sams card & paid down my hsbc discover, it feels so awesome. I cannot wait till I get my SW alert & my updated walmart TU score.
Starting Score: 580
