Tis the season for tax returns. This is the first year we will be getting a refund in many years, plus this year we will all be getting a little kicker in May. The point of the "kicker" is to boost the economy. The government wants us to spend our tax money to get the economy back on track.
I have read conflicting information on this theory. Some say that saving more money is the way to a better economy because we will be more finacially secure if we save the money or use it to pay off debt. Others say if everyone saves their money and no one spends, or buys anything then we will be in trouble. I am curious as to what your opinions are and what you plan to do with your tax money.
Here's our list of priorities:
1-new tires for both vehicles
2-pay off truck
3-new or used lawnmower
4-new livingroom furniture (ours is 14 years old and falling apart!)
The furniture may not happen, but hopefully we can at least save some towards it.
Tightwad tip of the day: Drink more water, it's CHEAP!
Posted by
Chantel H
March 05, 2008
20 I love comments!!:
I'm so glad you're actually getting some money back, that's awesome! I really enjoyed our visit the other day. I hope we do that again :) I have some good news. The insurance adjuster came and looked at our van and told me that he will be sending us a check, minus the deductable ($1000) so we don'thave to come up with the deductable, maybe we jsut won't get ALL the damages fixed. But we will hopefully get to get something done to the damage. Plus, Brother Bill P. is going to help us look at the radiator condensor, so we can get A/C again. THings just may work out after all. And, we put some $$ in savings already ;) i'm so sorry, I'm rambling onabout our life. I'm VERY happy about your good news!
Hey I have been drinking lots of water. Maybe it will help me save so I can pay the IRS off soon.
Hey,you are really popping on here alot now.Glad to see ya.Getting Taxes back is always great we love it.Hope you get your new furniture.
Money back from the IRS is always a good thing. I need to get our taxes done, I'm sure we will get something back with having a half dozen kids and all....I'm such a procrastinator!
Congrats on the $. I think that paying off debts is actually bringing money into the economy, just not retail. If the credit/mortgage companies are not hurting then people will continue to borrow, thus boost the economy. Those who are smart (not us) will pay off their debts first, then when they are stable financially they will boost the economy with new purchases. Check Craigslist for new furniture. Sometimes really nice stuff comes on there for very affordable prices. You might have to spend some time on it though. Good luck with your goals! I enjoyed talking!
I definately think that the economy would be better off if people used the money to pay off their debts. Since Sam and I have paid off our debts money goes so much farther and we have more money to spend on things that further the economy;without the stress of wondering if we can pay for it. Having our debts paid off(except the house) is one of the things that I am continually thankful for. We also received a nice chunk from the IRS. They were glad we had a new baby too! Our priorities are as follows:
1. A little more for the E-fund
2. Save for a new car (ours is getting a little tight)
3. Spend a little money frivolously. (already did that one it was easy!)
4. And I want to spend a little on making our yard beautiful. Not sure yet if Sam will agree.
Yep water is the yummiest cheapest to me too.
I read this and your last post, since I hadn't read it yet. It's a good thing you were still in your driveway when you realized you hadn't made a list... It might have been slightly more dangerous if going 60 miles an hour down the highway, you suddenly remembered "I FORGOT TO MAKE A LIST!" and stopped the car right where you were. LOL. I hope you can get new furniture for your sake, though your old furniture seems fine to me... but since I don't live with it day in and day out, I guess I wouldn't know about all the problem spots, seemingly "huge" rips, tears, stains, etcetera. Be sure to let us know how the tax return spending goes. I believe your family will remember your priorities, but I do remember that Dad said our first priority was to lower the foundation, and it still hasn't been done! Oh, well.
Julie: sounds like things are working out great! I am so glad. I REALLY enjoyed our talk too!
Cherrie: If you put that Sonic fund towards your tax bill, you can save some serious cash fast!hehe
Michelle:Thank you, I hope so too.
Marisela: Oh yeah, you guys should get a HUGE refund especially with the may refund coming.
Gale: I totally agree with your philosophy.
Neena: I was also very glad I was still in the driveway. No telling what the shock would have done. I could have had a major accident!
And about the furniture, Dale and Andy were wrestling a while back (imagine that!) and all of the sudden the back of our loveseat gave a huge groan like the back was separating from the rest. Well, now the loveseat is against the wall for better support, but I'm not sure how long that will last. We have replaced legs on the couch, and yes there are several small holes. The hem has come out of the material that hangs down at the bottom. Someone got permanent marker all over one of the cushions, so I washed all of them. They looked great, but now the couches really look old! I hope I have convinced you that it's definately time for some new furniture!
Skye: Great list. I love lists!
I would always choose paying off debt over contributing to the economy, because again, like Sis. Gale said, after debt is paid, loans are easier to qualify for, such as mortgage loans. Thus you contribute to the ecomony, after your personal finances are in order. Okay... there's my 2 cents. LoL
I am looking at Ikea and Craigslist for my sons furniture too. Budget, budget...
I am all for paying off debts with that money...but that is no surprise since you know my money philosophy like the back of your hand.
I am curious as to how much we can expect from this kicker check, I love to daydream about what to do with money....
We plan on going to Brewster for the campout if:
1. They have one
2. we get the kicker in time
and then we plan on:
1. Paying off some of our debt
2. Putting the rest into savings for a little extra each month
Teresa: I have checked craigs list too, there's also a big sale this weekend in bend, we'll see what they have.
Trina: the kicker check is supposed to be $600 per adult and $300 per child in the house, but don't get to excited and count on all that money because there is a limit. I've heard it's $1800 total, but I'm not sure about that.
W.: We also hope to go to the campout. Lord willing, we will see you there!
Oh, by the way, I think it would be a good thing if everybody got out of debt - and especially if the national debts were paid off. But as Mom says, it would be much easier on the country's pocket if we used our own resources!
Yeah, Bro. Josh and Sis. Carrie (I've asked her if that's how her name is spelled, so I knew, and you didn't!!! Ha ha ha!), they got a place. Some rental house of Bro. Denny's in McCleary. But it turns out that they didn't need Kali's and my help after all!
I know I always have big plans for our refund...However it never seems to accomplish all that we want it to..Sigh
Oh well, I did however hear a little something that the "bonus" that we are getting from the goverment, apparently it isn't as great as they make it sound..Something about cutting into our next years return or even making us pay....
Chantel,
You know, Me & Dave Ramsey are like THIS!! So I definately all for paying off debt. But... I truly need a new dining room set. The aution chairs are giving out and I just hate the way it makes my house look. Everyone already thinks we are a bunch of hillbillies. If you all don't belive me I will post pictures!!
My ideas for my "kicker check" is to go see the ocean, and my brother and sister and their kids. That doesn't really help the economy, but it really helps my sanity. My husband and six of my children as well as my soon to be daughter in law have never seen the ocean. That's definately a crying shame. More important than the economy right? He he
Well, I'm a little late joining in this conversation, but here's my 2 bits...
I'm not sure how it boosts the economy, but first on our list was paying some debt off. Sadly, we got a rather large tax return, but it wasn't enough to pay all of our debt off.
Like Skye, we had to spend some of ours on some unneeded items too!
We also left some in our savings account.
Now it is all gone (except what's in the savings) and I can't remember what all we spent it on...
As for the check in May, unless we have a dire need that we need to use it on we were thinking me might spend it to go to Chris' wedding and go to Disney Land with the other McManus' afterwards. I have never been to Disney land. Isn't that a shame?
When are you going to post again?
Well A. Chantel I know it may be more than a minute before you read this comment, but I changed my blog to private as we discussed and I would like to invite you. My e-mail address is oceanliner@cox.net whenever you have the time. Have Fun!
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