Tax season is officially in high gear. We have decided to do some work on our house every year with our tax refund. Some years it will be minor and other years it will be a big project. This year we are buying a new refrigerator (You know you're officially an adult when you get excited about a new refrigerator)
Here is a photo of one like we are getting:
We currently have the smallest freezer known to man, so I'm pretty excited about this huge freezer.
What are you doing with your tax refund? Need some ideas? Check out the ideas below from guest blogger Rich Missey!
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Every year, the kids get more and more excited as December approaches. Their faces light up on Christmas Day as they unwrap new gifts from family and Santa. For the adults, that expectation may turn to dread as the bills pile up and income tax season rolls around. We type away at online forms, gather up paper receipts for an accountant, or just hand everything to a spouse and go grab a bottle of wine.
Admit it, you've done it!
If you're one of the lucky ones that will be getting a refund check this year, here are some home projects that you can tackle once the money comes in.
- Save it. The best approach for smaller refunds is to use it as a savings fund starter. Identify what you really want to accomplish, how much you can save each pay period, and use the income tax refund to kick off your savings. It's mentally much easier to save when you have more money in your savings to start with.
- Pay off bills. Yes, this can be considered a home improvement project. Paying off (or paying down) high interest bills puts more money in your bank account over time, which makes it easier to plan larger projects over time.
- Paint. With less than $100 and some elbow grease, you can remake a room in a day. You'd be amazed what a new coat of paint on the walls can do for a room. Don't forget the accents! If your baseboards are painted, repaint or at least scrub them. Brighter or lighter colors can make a room feel bigger than darker, more light absorbing colors.
- Accessorize. The right accessories give a room personality and can add to the illusion of size. Mirrors and pictures, or any reflective surface, can help make a room look larger than it is. Also, be sure that there's not too much in a room. There can be a fine line between "lived in" and "Next time, on Hoarders…"
- Room remodels. If your refund is really good, you might be able to afford a remodel. This might be all new kitchen appliances and counters, bathtubs and vanities, or bedroom sets. Coordinate the new items with existing colors or completely change the theme of the room with new flooring and paint.
If you find yourself grumbling at this list because you ended up owing Uncle Sam once the dust settled, now is a time to evaluate your weekly payroll deductions. An extra $25 per paycheck each period will hurt a lot less next
year than a single big tax bill.
About the author: Rich is a writer for Goedeker's, an online retailer of discount appliances, furnishings, and plumbing supplies.
