By now most of you who were getting a tax refund this year have probably already received it. So, the question has to be asked: what did you spend it on? Since the average federal tax refund is around $3,000 most people are getting a reasonable chunk of money. Sure, we can argue that it would be better to adjust your tax withholding so you don’t hand over so much money to the IRS with each paycheck, but the fact of the matter is many people are getting returns and they have to do something with that money. Of course, there are both good and bad ways to spend a tax refund.
So, did you put your tax refund to good use or was it some mad money that you used to stimulate the economy? We received a bit of an unexpected tax refund this year but I have to admit, we had no exciting plans for it. About a third of it went into savings, a third of it paid off the balance on a zero percent financing deal that was coming due on the lawn mower we bought last year, and another third went into our rental property. So, what did you spend yours on?
Incoming search terms:
- what are you spending your tax refund on
- how did you spend your tax refund
- how did you spend your tax refund?
- I Have An 11 000 Refund Coming
- recieving a 11000 dollar tax refund
Don't Miss: Scottrade Review - $7 Trades and Get 3 Free Credit Scores and Hot Credit Card Deals
Filed Under: Polls
About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.