Wise Ways To Spend Your Tax Refund

by Anne Middleton, on April 24th, 2015
boston proper tax refund sign

The dreaded April 15th, tax deadline day, is finally over!  Itemized deductions, W2s, and complicated forms may not be much to cheer about, but that’s all behind you. Now comes the fun part… the tax refund. There’s nothing quite as much fun as seeing that sum pop into your bank account. Now it’s time to decide how to spend the funds your friends at the IRS just sent back to you. Depositing it into your retirement account or setting it aside for your kid’s college tuition might be shrewd choices, but they aren’t much fun. Instead of simply making an astute decision, look for a way to spend your refund that is both brainy and beguiling.

Make an investment in your body: Good nutrition and exercise are both crucial to good health, but sometimes it’s hard to justify putting money from a strict budget into taking care of you. Invest some of your refund into seeing a dietitian, joining a gym or signing up for yoga classes. Of course before you step onto an elliptical machine or attempt your first Chaturanga you will need the right wardrobe. Stocking up on cute fitness clothes can help keep you motivated to hit the gym. Direct some of your refund to sports bras, workout leggings and new fitness shoes from Nike. Good health also means distressing, so prepay for a handful and massages to have the knots worked out.

See the world: Jetting off for a tropical vacation may sound frivolous, but traveling can help make you a well-rounded person and give you fresh perspective with which to tackle the rest of the year. Plus, if you have tiny tots or adolescents at home, traveling is the perfect way to get in some quality time and build memories. Using you tax refund to cover the cost of a trip may help ease the financial burden, so consider booking a few plane tickets and a room at a resort. Be sure to save some dough for a travel-ready wardrobe including colorful Converse sneakers for sightseeing and snuggly UGG boots for flights.

Give your career a jolt: Feeling stuck in your nine-to-five job? Spark some movement in your career by using your tax refund to improve your skills and upgrade your professional perception. Enrolling in a work-related class is a great way to add a new feature to your resume. Look for language, technology and business classes at your local community college or university. You can also sign up for networking groups and rub shoulders with your industry peers. Not only do networking events give you the chance to enhance your contacts, they are often help during happy hour.  If you need to sculpt a more professional appearance, now is the time to refresh your work wardrobe. Use some of your tax refund to invest in a few new suits, accessories such as scarves and statement necklaces and some killer pumps from Boston Proper.