It’s officially tax season. Some people owe the IRS money and some don’t. Others get refunds. If you are getting a refund this post is for you. Make sure that you are smart with your refund. Don’t spend your refund in any of these dumbass ways.
Spending all of it on expensive shoes and clothes
There is no reason for anyone to spend all of their tax refund on expensive shoes and clothes. It’s not smart. There is nothing wrong with buying a couple of items, but there is no need to spend it all on clothes that will make you go broke. In the past, I’ve seen people spend all of their refund at the mall. That’s ridiculous.
Using all of it on a down payment for a brand new car (even when you can’t afford it)
Using all of your tax refund for a down payment on a new car doesn’t make sense. Cars depreciate in value. Depending on your situation you may not be able to make your monthly payments. You may get behind in your payments and the car could eventually get repossessed. If you couldn’t pay your car note in the 1st place, I’m pretty sure you wouldn’t be able to get your car back from the repo man. In essence, you just wasted your refund.
Not saving some of the money
A lot of people have a problem with saving money. Whenever you get a decent size of money, you should save a small part of it. Emergencies happen. Having money in an account can help you out during those stressful times. If possible, try to save a couple hundred dollars of your refund.
Spending it all at the club
Everybody likes to go out and have a good time, but there is a huge problem if you spend all of your refund at the club. You may be wondering if that’s possible. It is very much so. If a person decides to go to a club and get VIP service with a couple bottles, that could easily be $1000 or more. Save that money for something else. The club will always be there.
The last dumb way to spend your tax refund is to gamble it all away. That’s really not smart at all. The odds of spending your refund on lottery tickets and actually winning a large amount are not good. The same can be said for casinos. Your best chance is to save that money and also invest in something.
Those are 5 dumbass ways to spend your tax refund.
Do you know of any other dumb ways to spend it? Have you made the mistake of blowing a tax refund before?