I know its our money. We earned it and let the government borrow it. But it still felt really great to get our tax returns back. We didn’t spend it on a big vacation (although I wish we could have.) We didn’t spend it on a bunch of new grown-up toys (read electronics.) We didn’t even invest it in stocks or stash it away in a savings account.
Instead, we used it to pay off 83% of our credit card debt. And it feels great. Only 17% to go, and then our only debt will be our car payments. I’m not sure if I feel the need to pay off our cars at the speed of light, though. We planned for our car payments. We knew we’d be paying x amount every month. But no one plans to carry a balance on a credit card. I have no idea what our goal should be to pay that other 17% off. Maybe four months. Maybe. I’m very into setting goals, but I’m also very into being realistic about them. I don’t like setting myself up for failure. This may require sitting down and doing some long math.
What did you/will you do with your tax return money? (If you’re getting any back.)