What To Do With Your Tax Return?

February 11, 2009 · Posted in austerity, bad economy, banking, common sense, debt, money, personal finance, saving

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Tis’ the season of the long awaited tax return for those early filers out there. Those glorious checks that cheerfully find their way to your mailbox, unless you live in California. With dollar signs in the eyes of many, strict budgeting is need and it is needed fast.

In these difficult times, this additional money can really help make a difference in a person’s budget, if they spend it correctly. I have some very dear friends, who I love very much, who will have received about $3000. worth of tax refunds from Uncle Sam this year. As their money is starting to trickle in, so are the unneeded large purchases.

I am not a financial scholar, I have made my mistakes financially. When I see friends of mine making such large frivolous purchases, this makes me start to think about how others will be spending their return as well. Will the whole country be as irresponsible as my dear friends?

I will not be receiving a return this year. I am totally bummed, because I could really use the extra influx of cash, right about now. I am sure that most of the country could use an influx of cash right now as well. Even though I will not be receiving a return this year, I pondered that if I had, what would I do with the money. I do know that large unneeded purchases would not be happening.

How can people like my friends even think about shelling out large amounts of cash at a time like this. I do understand that spending stimulates the economy, but in these shaky times, when jobs are not guaranteed, doesn’t it make sense to not spend but save? I know that there are those out there who will not spend like money is going out of style.

There are those out there that need that money to stay afloat financially. Wether that tax return comes or not, financial responsibilities never stop. I hope that for those who really do need the checks right now, that they use it in a responsible manner.

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