Got our tax refund!!!

iVillage Member
Registered: 02-09-2004
Got our tax refund!!!
2
Wed, 03-01-2006 - 2:27pm
I was just checking our account balances online and got the pleasant surprise of finding our tax refund deposited! I'm going to open and ING account with $1,000.00 of it to use as the start of our emergency fund and the rest is going to debt. We should be at around $6,500.00 after this! What a great way to start March, I've been so stressed about $$$ lately and this really REALLY helps. We are going to use $200.00 of our refund to buy a new comforter and paint for our bedroom so that will be a nice treat. Hopefully next year we won't have to use any of it for debt and can invest 90% and do something fun with the rest!

Avatar for endomagazine
iVillage Member
Registered: 11-09-2004
Wed, 03-01-2006 - 2:40pm

Hello,

Congratulations on planning exactly where that tax refund money will go. Open that ING Account and deposit it quickly, or you may find other ways to spend it.. It's a nice feeling knowing that you don't *have* to use your credit card if the car needs repairs, or some other emergency comes up. =)

I find myself using my emergency fund once a month, but it gets refilled on the next payday (every 2 weeks). So it's stayed at $1000 for several months now, with occasional transfers to cover a bill until payday.

Sincerely,
Lindsey Schocke

Sincerely,
Lindsey Schocke

Geeks on Tap: Mission Accomplished

Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
Wed, 03-01-2006 - 3:26pm

CONGRATS!! We haven't been able to figure out how to get more $ in our pockets during the year so we end up with a huge tax return....we used it to pay off our van we bought last summer and now we are car payment free. From here on out we are going to put 2/3 of it away in an ING account or a short term bond or something for a decent return towards our next vehicle since we can't afford to put the payment away every month. We are using it to retire debt...

It feels SO SO SO good.....I like the painting & the comforter idea...we went for a long weekend with the kids.