Dolla Dolla Bills, Yo.

About a week ago I posted about all about how we spent our tax return – well, I got some really helpful comments from you all about how to spend your tax return wisely and I thought I’d gather a few  in a list so we can bask in each other’s awesome and  savvy ideas.

Here’s the whole shebang on how we spent ours:

1. We bought things for the house we really wanted but didn’t really need .  We got a set of skillets, a tool chest, and a leaf blower… which came to a whopping $300 total. The little things add up FAST!

tax collage

2. We also put aside the total cost of our home owner’s insurance so we can pay it off in one lump sum when it’s due and not add another monthly payment to our list (we did this last year as well).

  • Also, I have my car insurance and home owner’s insurance both with one company and once we’re married Matt’s car insurance will be added to it as well. It saves you money to bundle everything with one place and you can still pay things separately (ie, the home owner’s all at once and the car stuff monthly). AND I get 10% off because I’m an alumni of a certain school- so check with your insurance company to see if they have alumni deals too!

3. We set a little aside for an emergency fund, not much- but more then the $0 we had before!

And here’s some reader suggestions:

  • Carly at {IN}Design took a similar approach, she’s getting a dining room table
  • Asia at Cape Cod Dreams used it to make an extra mortgage payment (PS- this is a super awesome idea and everyone should try to do this. just one extra payment a year can take 10 years off your total mortgage!)
  • Ann at Such a Mama refinanced her home with her family’s tax return (and she’s hoping to get a vacuum and deck furniture too!)
  • Emma at Broke Ass Home suggests maybe getting a new mattress or having overdue work done on your car (tired are expensive  ya’all!)

 

So now I urge the rest of you to come out of of the shadows and pipe in- what other savvy ways can a tax return be spent?!

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10 thoughts on “Dolla Dolla Bills, Yo.

  1. I like the idea of putting some money into an emergency fund. Right now we have a savings account we put money into regularly, but in all actuality, we use it more as our home renovation fund and also take out of it regularly. For instance, right now we are taking out of the account for our kitchen overhaul, so we will be back to very little soon. I definitely need to start an emergency fund to ease my anxiety. I am always freaked out that something expensive is going to break down-Like our furnace…in the middle of winter.**Knocks on wood**

  2. I actually did the car one! my car has been sitting, unused and non-working for the past year. so I got new struts, spark plugs, a battery and did an oil change. of course, Todd did all of it so we didn’t have to pay for service 🙂

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