I understand that stores need to take every opportunity to encourage us to spend, buy, and spend some more…but this is still so frustrating! I just saw the following statement scrolling across the top of the screen of a major retailer’s website: “Shop Unbelievable Tax Refund Online Specials!” Clicking the link takes you to a page filled mostly with big screen tvs.
If you’ve given the government a tax free loan all year and just got a refund, how about sticking it in savings? Much less fun and much less shiny than a new big screen tv, but it’s often far easier to save that lump sum and just pretend it never existed than to try to save the same amount by saving it month by month out of your every day living expenses.
Of course if you diligently save all year, are on track with your emergency and retirement savings and other financial goals there’s nothing inherently wrong with having a little fun when a little unexpected money comes your way. I think I mostly object to retailers turning the tax refund into another obligatory buying season.
What are your thoughts? Will you be saving or spending your tax refund if you got one? How?