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How are you spending your Tax Refund?

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Frequent Contributor

Re: How are you spending your Tax Refund?

I am taking 500 and opening a Fundrise account.  All the rest will go into my IRA for 2019.  I have always added at the end of the year, so I want to finally get ahead of it.




Starting Score: 697,722,705
Current Score: See Above
Goal Score: 775


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Message 21 of 64
Valued Contributor

Re: How are you spending your Tax Refund?

It'll probably make the dont-give-the-govt-an-interest-free-loan group groan, but each of the last few years I get around $10,000-$15,000 back and just put it into savings. I don't know if it'll be bigger or smaller this year (I haven't even started on my taxes yet), but I do know whatever I do get back will just go right into the same pot as the previous years.

Message 22 of 64
Regular Contributor

Re: How are you spending your Tax Refund?

Wow that's a lot. I paid for a couple years and it just hurt to much. So I hired a tax lady, she could easily be on Hoarders: Crazy Cat Lady Edition but she magic with those numbers. Haven't paid since. 




Starting FICO-8 as of February, 2019:

Current FICO-8 as of June, 2019:

Message 23 of 64
Super Contributor

Re: How are you spending your Tax Refund?

What refund? I owe for the first time in 20+ years







Message 24 of 64
Regular Contributor

Re: How are you spending your Tax Refund?

Well ...for my refund its going to the savings account . no fun here lol .  Great post op i was thinking of the same thing.








Message 25 of 64
New Member

Re: How are you spending your Tax Refund?

With hopefully getting around 3k back. I will pay off 1 credit card that is 600, Lower a credit card to about 500 that is 0% for a few more months, 1,000 to my Roth and a few hundred to my ally savings. 4 more car payments till its paid off and I'll feel much more comfortable saving.
Message 26 of 64
Community Leader
Senior Contributor

Re: How are you spending your Tax Refund?


@simplynoir wrote:

The assumption is made someone is getting one in the first place. Smiley LOL


Here, here! 😂

Current Scores: EQ 679;TU 647; EX 679 Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015
Message 27 of 64
Community Leader
Senior Contributor

Re: How are you spending your Tax Refund?

My estimates say i will owe less this year. Tomorrow when i sit down and do my taxes i will find out if thats right. DH and i always end up paying at tax time but, like many, I'd rather have those $$ sit in my savings rather than Uncle Sam's.
Current Scores: EQ 679;TU 647; EX 679 Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015
Message 28 of 64
Regular Contributor

Re: How are you spending your Tax Refund?

A fool and his money are soon parted. The rest of us wait for tax season. 

Message 29 of 64
Community Leader
Senior Contributor

Re: How are you spending your Tax Refund?

😳 @iced.
GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

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Message 30 of 64
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