1. Owning My Finances!
Hello y’all! I hope that June is treating you all well and you are prepared for the
hot summer days that are around the corner. I know I am loving my summer
break…one reason I love being in the field of education!
So let me ask you, now that tax season is over, what did you do with your tax
refund; pay off bills? Blow it on a vacation? Invest it?
Well I still have most of ours…yep, you heard me…I still have all but about $2k of
ours! So you want to know what I do with our tax money every year. I get a free
Christmas, free school clothes shopping, and bump up my money market account.
You heard me…FREE! Who does not like free. Now you ask how it is free. Well,
We do not pay in anywhere near what we get back, but we get back a nice health
return. So I sit with my hubby and we figure a budget for school clothes and
Christmas for 4 kids, then we put that money into a Christmas Club Account at our
local bank, and we opened a separate saving account for school clothes for the
kids. Now, each pay period we put in small amounts to keep the accounts building
a nice sum to help cover incidentals like contacts and glasses, extra Christmas gifts
for office exchanges and so forth, but the bulk of our shopping is done with tax
return money every year. We never fully spend what is in those accounts either.
We just roll them over into the next year and that is okay because one day we just
may not have as much money to put in, or have an extra gift to buy. You can
never have too much in any savings!
Now, for an update on my personal deb; we had the good fortune of making a
vehicle purchase for our oldest son who will be 16 in just a couple of weeks. My
dad offered us a great deal on his Jeep and let us makes payments instead of
taking the money out of my savings account to pay him off. After much debate
and listing the pros and cons we decided to take the offer. The cons list included
not paying the extra on our debt. The pros listed the promotion my husband is
getting…so a car our son will get. Therefore, my debt has not gone down much…I
am down from $16834 to 16504.
So, what did you do with your taxes??