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4 practical and fun ways to spend your tax refund

2/27/2018 by
(BPT) - It's that time of year again when you may find a little bit of extra money in your pocket, thanks to your annual tax refund. There are plenty of practical ways to spend it, such as putting it toward paying off credit cards, loan payments or even starting a college fund, but there is always something tempting about taking that money and putting it toward something just a little bit more fun. Instead, consider something that is both practical and fun that you will use every day and will help you save money throughout the year.

1. Learn something new: Maybe you have been meaning to learn a new skill or explore a subject that you have taken interest in. Your refund is the perfect solution to fund a new hobby. A little bit of cash and a few extra hours a week can go a long way in honing in on one of your new (or old) passion points. Look into your local community college, dance studio, art center, etc. and check out the various classes offered to find one that piques your curiosity. If you are lucky, these courses could turn into something far more fruitful that will last far beyond tax season.

2. Plan a staycation: Planning a vacation can be tough with a hectic family schedule. Between working out the details and packing, the planning process can become overwhelming. Why make it complicated when you can instead vacation from the comfort of your own home? Use your refund to have family-based experiences in your hometown - many museums, zoos, waterparks, etc. offer discounted year-round family memberships, too. Even though your staycation may end once the weekend is over, the new membership will allow for family fun to continue throughout the year.

3. Get fit: Have you faltered on that New Year's resolution to spend a few more hours a week at the gym? Your tax return is your second chance at getting into better shape this year. If the gym isn't for you, put it toward trying a new exercise class, or better yet, do it with a friend or partner! Many workout studios give discounted classes for your first session, so you'll have the opportunity to "try before you buy" - and if you love it, pick up a package of classes to reduce longer-term costs.

4. Cook a homemade family feast: While you could take your hard-earned tax return to a fancy restaurant, you could also make a fancy dinner right at home. Use your extra spending cash to revamp your kitchen with new appliances and ingredients that will allow for more exciting in-home dining. Splurge on a homemade pasta maker or a brand-new mixer, then work as a family to cook up your very own secret recipe. These purchases and new creations will result in a fun night of cooking for the whole family, but also will be around for years to come!

You work hard all year and deserve to reward yourself with something fun and practical that can bring a little more balance to your emotional and financial health.

Questions? Comments? Ask Rick!





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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by radical promoting and their editorial staff based on the original articles written by jeff cutter in the falmouth enterprise. This article has been rewritten for Rick Durkeeand the readers of Rick's Weekly. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.