What Should I Do First With My Tax Refund?

[JimBlancoSkippy]

When you get a tax refund, what do you do first?

 

[emberdancer]

We pay our auto insurance yearly. Then the rest goes toward things we’ve been wanting and putting off until we have money.

 

[EpicGecko47]

Take $1k for pantry/freezer restock. The rest to savings.

 

[guitervampheart]

Decide which savings account/accounts to transfer it into

 

[WolfRolanCale]

Take care of whatever absolutely needs catching up on the bills side, or the things you absolutely need to buy (I desperately need winter boots and a coat), and then let the rest go into savings.

 

[BizShawRiqueMolo]

I like to do something enjoyable, with the rest directed toward debt. So, this year, we are going to pay off the rest of a vacation we will either take later in the year or next year, and then the remainder will go toward my student loans.

 

[vegwormsteelfiend]

Hoping I break even or owe 100 or less every year as it should be ALWAYS

 

[brokenbouldermgr]

Catch up on bills/pay ahead. We buy Kings Island gold passes + dining plans for our fam every year w/ it, so we have something to do in the summer w/ the kids. The rest goes to emergency savings, tbh.

 

[RedWormElm]

Goal: do not give the government an interest free loan. No debt. The LITTLE return goes to Savings.

 

[electricbrawl]

Paying off debt... I am claiming that this will be the last year I have to use it for that, though. As next year and the years to come it will be used for saving. There won't be that quick rush... to dump it on anything but my savings account. I claim and receive it!

 

[WolfeMoncrief]

Go over “the list.” It’s semi urgent expenses we didn’t have the money for this year, one of my toilets is broken, and we’re hoping to get it repaired plus debts. We cover anything urgent, then split the rest between debt and savings!

 

[deadmunchies]

I'll keep it in my savings and use it for sitters, b days, Christmas, and things I need for the kids throughout the year.

 

[MintSpartanJck]

Pay towards our family vacation. We don’t get a lot back, so this comes FIRST a week at the beach every year stressful jobs, so for mental health. We eat at our rental mostly. One splurge we all look forward to. Once the rental is paid, we save for groceries.

 

[fadedarcher93]

I don’t get a tax refund I truly do suggest to people to adjust their setup to get as close to 0 as possible. You get more money throughout the year.

 

[LostTypewriter]

10 percent of it goes to savings. Rest goes to Pay off debt.