Feature Articles: Taxes
Getting a tax refund? Make it work for you
Brenda Procter, M.S., state specialist & instructor, Personal Financial Planning, College of Human Environmental Sciences, University of Missouri Extension
A big tax refund check is the financial event of the year. If you
plan ahead, you can use your refund to solve problems and meet goals.
It can help when everyone in the family talks about what to use
your check for and agrees on it — but as the adult in the family,
you get to decide what to do.
Even young children can learn there are limits to what the family
can afford. Let them dream a little, but don’t be afraid to say
no. They appreciate limits, even if they don’t say so.
Look at this list of ideas, add your own, make your choices and enjoy your refund!
- Pay or catch up on utilities
- Open an emergency savings account at the credit union
- Pay off payday loans
- Get a new TV
- Buy new glasses
- Get new clothes
- Fix your car
- Get a car with better mileage
- Pay off your cell phone
- Get your hair done
- Weather strip doors and windows
- Buy compact fluorescent light bulbs to save on utilities
- Make a deposit on an apartment with better utilities
- Get renters insurance
- Pay back a friend or family member
- Pay your rent
- Take a vacation
- Insulate your house
- Get a massage
- Make household repairs
- Get a computer
- Pay medical bills
- Buy an energy-efficient stove
- Give yourself a well-deserved night on the town
- Pay the baby sitter
- Pay insurance bills
- Get new shoes
- Go to the dentist
- Buy toys
- Get a cell phone contract
- Buy furniture you need
- Stock up on non-perishable food and paper goods
- Buy an energy-efficient refrigerator
- Get a new lawn mower
- Take your kids to the movies
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Last update: Wednesday, February 10, 2010
