Comments on: What not to do with your tax return http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return Wed, 16 May 2012 14:32:55 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Credit Card Processing Decision http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-123550 Credit Card Processing Decision Sat, 27 Sep 2008 14:47:01 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-123550 I think American's are addicted to their tax refunds. It's crazy because you're loaning the government your money. Why do that? So you can get a big check once a year and blow it? Almost every American I knew looked forward to their tax rebate like it was Christmas. Amazing. Joe I think American’s are addicted to their tax refunds. It’s crazy because you’re loaning the government your money. Why do that? So you can get a big check once a year and blow it? Almost every American I knew looked forward to their tax rebate like it was Christmas. Amazing.

Joe

]]> By: » Linkfests Are Fun! on Blueprint for Financial Prosperity http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-3997 » Linkfests Are Fun! on Blueprint for Financial Prosperity Sat, 31 Mar 2007 22:00:25 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-3997 [...] to spend your tax refund. Now, it’s one thing to spend your tax refund, it’s another to spend a tax refund you aren’t getting. Counting your chickens before they’ve hatched is always a bad [...] [...] to spend your tax refund. Now, it’s one thing to spend your tax refund, it’s another to spend a tax refund you aren’t getting. Counting your chickens before they’ve hatched is always a bad [...]

]]> By: MossySF http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-2325 MossySF Sat, 24 Mar 2007 22:27:50 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-2325 Some people get a thrill out of buying consumer goods. I get a thrill out of buying investments -- I love watching the stock symbols and tracking the price changes. I have a sense in the back of my mind that my asset allocation target is not yet complete so I already have lumpsum moneys dedicated for that purpose. Some people get a thrill out of buying consumer goods. I get a thrill out of buying investments — I love watching the stock symbols and tracking the price changes. I have a sense in the back of my mind that my asset allocation target is not yet complete so I already have lumpsum moneys dedicated for that purpose.

]]> By: Crediteria.com http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-2160 Crediteria.com Thu, 22 Mar 2007 23:08:47 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-2160 This to me is a huge problem. What folks really should be doing with their tax refunds is investing it in something like mutual funds or even bonds. The thinking by most people is that a tax refund is free money. Money that's simply fallen into their laps. It's not free money. Essentially a tax refund is a free loan you provided to the government. It is money that was actually worked for. I always recommend that investing, not frivilous spending should be the plan with tax refund money. Heck, maybe even pay down some credit card debt! OK, I get a bit frustrated when I hear these stories because it's these same folks who will be feeling the burdens of being deep in debt. This to me is a huge problem. What folks really should be doing with their tax refunds is investing it in something like mutual funds or even bonds.

The thinking by most people is that a tax refund is free money. Money that’s simply fallen into their laps.

It’s not free money. Essentially a tax refund is a free loan you provided to the government. It is money that was actually worked for.

I always recommend that investing, not frivilous spending should be the plan with tax refund money.

Heck, maybe even pay down some credit card debt!

OK, I get a bit frustrated when I hear these stories because it’s these same folks who will be feeling the burdens of being deep in debt.

]]> By: Shadox http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-1933 Shadox Thu, 22 Mar 2007 06:46:48 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-1933 Some of us did not get a refund at all. In fact, some of us (me) found out that they underwithheld their taxes... :-( Some of us did not get a refund at all. In fact, some of us (me) found out that they underwithheld their taxes… :-(

]]> By: Thomas http://myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return/comment-page-1#comment-1825 Thomas Thu, 22 Mar 2007 00:51:32 +0000 http://www.myfinancialjourney.com/archive/what-not-to-do-with-your-tax-return#comment-1825 This was so me about 5 years ago, I can remember being in University and getting a nice refund around tax time and was just like your friend out purchasing something that I likely didn't need. I would go get a new TV or gaming system when I already had a perfectly good one at home. Oh how things have changed, it took awhile but I now focus any additional revenue on debt repayment or savings which in the long run will allow me to enjoy my life and buy my toys. This was so me about 5 years ago, I can remember being in University and getting a nice refund around tax time and was just like your friend out purchasing something that I likely didn’t need. I would go get a new TV or gaming system when I already had a perfectly good one at home. Oh how things have changed, it took awhile but I now focus any additional revenue on debt repayment or savings which in the long run will allow me to enjoy my life and buy my toys.

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