How To Make The Most Of Your Tax Refund
November 14, 2021
I think we can all agree, there are only two good things about taxes. Number one, that feeling you get when you finally get your taxes done, and number two, when you finally get your tax refunds.
We can help you with number one and this blog will address number two.
There are many things you can splurge out on; a lavish holiday, some designer clothes, a party for you and your friends. Here are some ideas to get you thinking: How else can you use your tax refund?
Fulfill A Dream
Is there something that is close to your heart that you want to do but have been putting off? No matter what it is, your refund could bridge the gap and make your dream one step closer.
Do you want to learn latin dance? To be a better cook? Motorbike across the country? Pick up pottery? Tax season will always come and go but the opportunities for fulfilling your dreams don’t last forever. Seize the moment and remind yourself of that dream.
Throw An Event
Picture the scene, a musician playing live music, a bar stocked with refreshments, a fun and creative venue— maybe a sprawling greenhouse, or a reserved nightclub with just you and all your closest friends enjoying each others company. Using your refund to create memories like this will be more valuable than a quick purchase.
You’ve worked hard all year, and your tax refund is to show for it. Let yourself take a much needed break in the company of your loved ones.
Have you always dreamed of going traveling but didn’t quite have the cash? OK, fair enough, your tax refund isn’t likely big enough for you to travel the world, but still, it helps towards that Hawaii fund. Or maybe a luxe staycation.
There are always travel deals available, such as a return ticket to Asia or South America. After doing all your taxes we think you deserve to lie on a breezy beach for a while and sip on some cocktails, don’t you?
Start Your Own Business
Do you have a great business idea that you have been longing to do but haven’t gotten around to starting yet?
We’re not saying to drop everything and dive right in. Be smart and weigh up the pros and cons first. But if you think you’re on to a winner then using your refund to get something up and going can be just what you needed!
Just One Thing!
Before you do any of this just double check to make sure it is a smart financial decision. Can you afford it double over? Are you in good financial state? Before you spend on luxuries, use your refund to chip away at debt first, pay some, or even all, of it off. And if being in debt is a common occurrence, then try to use some of your refund to start a savings account so you’re covered for a rainy day. Start with necessities first.
We’re accountants, but we are also people that like to have a good time. As far as we are concerned, as long as you are not in financial jeopardy, you can spend your refund however you want to. It is your money after all!
However, if you want to get your taxes done, know everything that you’re entitled to, and get the largest refund possible then contact us now and we’ll get back to you within 24 hours!