Aww, I'm so proud of us!
By katsmeow1213
@katsmeow1213 (28716)
United States
February 8, 2011 7:49am CST
So, last year about this time we got our tax returns. We do get a very large amount of taxes due to the kids and hubby's income level. Last year we had 2 main goals, buy hubby a car and fix mine up a little bit. That cost a total of $5,000. We got a total of about $10,000. What happened to the other $5,000 I couldn't tell you. I know we bought a wedding ring set for me that cost us around $1,000.. but other than that we have nothing to show for our returns. We spent a ton of it. We didn't even catch up on bills because we were still behind on our power bill and cable bill after that. I think most of it probably went to eating out.. we went to eat out just about everyday after we got our taxes last year, until they were gone. I also bought a lot of clothes.
Anyway, I was certainly upset when that money was gone. It went a lot faster than I thought it would, and didn't spread as far as I wanted it to, and we didn't have much to show for $10,000!!
This year we got about the same amount, and we definitely had big plans for it. Hubby's car needs a new exhaust system, I need a new car...
Our taxes are basically gone already, but I feel we did a lot with them, and a lot of it was good stuff. We did go out to eat once, and we had a small shopping spree.. we bought each of the kids a toy or video game and also some clothing (on the clearance rack.. I can hardly pass up clearance items when I have money!).
However.. we also paid all our current bills up to date. I bought a van which I'll be putting on the road today. We got cellphones (and when I sell my Durango for $1,500 I'm putting that entire amount towards our cellphone bill). I paid off an old bill to a bank that was stopping us from opening a new bank account and it was showing on our credit report, so I can now open a savings account, and I've been saving my first paycheck from Subway in order to open a savings account with it, and possibly even a seperate checking account in order to pay off old debts.
We also bought a new laptop. We're returning the one we'd been using which we're leasing from hubby's work at about $100 a month (the payoff was still higher than buying a new laptop from Best Buy).
Part of the money is going towards some dental work for me which I've been putting off for years. Unfortunately I put it off too long and now need full dentures, I feel embarassed admitting that.. but in total this will cost $2,500 on top of my insurance. I'm just glad I'm getting it over and done with now and won't need future dental care unless I break my dentures.
With the rest, I'm paying some bills! We got settlement agreements for some old debts. I had a power bill in my name many years ago that racked up to well over $2,000 before it was shut off and then we turned it on in hubby's name. They offered me a settlement for just about $1,000.. so I'm taking it!
Also one of hubby's old credit cards, the balance is currently about $700.. they're offering a settlement for just under $300.. I'm taking that too!
So that's it for our money.. but I think we did a lot of good things with it, and I'm very proud that we accomplished everything we wanted to, and didn't spend much of it on unecessary things like we did last year. We've used most of it to help us out and give us a better quality of life (less debt, better working vehicles, no more tooth pain!).
What have you done with your taxes? Are you proud of the way you spent your taxes, or do you think you could have done better?
If you haven't gotten them yet, what do you plan to spend yours on?
3 people like this
13 responses
@laglen (19759)
• United States
8 Feb 11
First let me say:
Hey, you got a job! Congrats!
In response to your question, I paid bills and put a little into savings because like you, I need some dental work (no insurance) so now I can get it done. But I am hesitant because I like the money in my savings account.
I do tax prep and am getting a bit of business this year so I am trying to sock that into savings.
I dont get nearly the refund you do. I only have one child. but hey, every little bit helps. 
I do tax prep and am getting a bit of business this year so I am trying to sock that into savings.
I dont get nearly the refund you do. I only have one child. but hey, every little bit helps. 
@katsmeow1213 (28716)
• United States
8 Feb 11
Yes I've been working at Subway for a couple weeks now. Only about 10 hours a week, but like you said, every little bit helps. Still looking for a part time clerical day job.. but I've got time. That one will just be for the experience.
2 people like this

@rosegardens (3032)
• United States
8 Feb 11
My tax return go towards paying the current years taxes. I still have to pay out of pocket on top of the tax return, but I am grateful for the little bit I do get back. It certainly does help.
It is good you are starting a savings account. A bit of advice--make your dentist a priority, and teach your children. Get them their check ups and cleaning every 6 months. Bacteria on teeth can cause heart attacks.
Glad you were able to get out of debt! Woohoo! 

1 person likes this
@katsmeow1213 (28716)
• United States
8 Feb 11
I am far from being out of debt.. but I paid on a bit of it, that helps.
1 person likes this
@katsmeow1213 (28716)
• United States
8 Feb 11
Good luck! My husband still claims 7 on his W-4's.. I couldn't imagine what our refunds would look like if he claimed less!
1 person likes this

@katsmeow1213 (28716)
• United States
8 Feb 11
Yep, that's basically what it is. Like I said, I don't mind.. we certainly need the large sum, because thus far we've been awful at saving. Hopefully that will change now though.
@katsmeow1213 (28716)
• United States
8 Feb 11
We are over charged all year. I have no idea why they do it this way. It would be easier for the government to charge less on the weekly paycheck and then not have to give us a rebate every year. Though I can't say that I mind getting the refunds, it's usually very helpful in letting us pay some bills and buy some stuff we can't normally afford.

@mermaidivy (15394)
• United States
8 Feb 11
Congrats! We have got a baby this year and hopefully we will get a large tax return as well. We are in debt as well, tax return would deefinitely help!
1 person likes this
@katsmeow1213 (28716)
• United States
8 Feb 11
Congrats on the baby, and hopefully you will get a nice sized return and be able to pay off some bills!
1 person likes this
@sudiptacallingu (10879)
• India
9 Feb 11
Its always wonderful to have some extra money apart from our monthly paycheck and tax return is all the more delicious LOL.
Now don’t feel guilty about last year, we all deserve to splurge at least once on whatever we want, no matter how foolish that might look later.
But yes, this year that euphoria is more mellowed and you’ve put the money to good use. I too try and do something similar.... actually we middle class families are forever planning up this and that for things which never seem to get done due to lack of funds... I’ve spend the return money on buying upholstery, on buying cookwares, have kept some of it away to part fund a vacation...
@ravinskye (8237)
• United States
8 Feb 11
We got about the same amount as you did last year and like you I can't really say where most of it went. Mostly to pay up bills that had fallen behind. We're getting slightly more back this year. The biggest thing we need to pay up on is our primary mortgage. After that I want a new shower put in. We've been here for four years using this crappy little shower. Both bathrooms had clawfoot tubs with no shower. We bought one of those kits at Lowe's to make a shower but we had to put small tubing on it so the water pressure is horrible and getting worse from calcium and lime build up on the shower head. So I want a real shower put in with metal pipes and good water pressure. Then after that we'll pay up other bills and maybe get some painting done. To get our house ready to sell the previous owners just slapped up a bunch of white flat paint. So you can imagine what my wall look like lol. They just don't wipe clean. We got our hallway done last year and have started on the living room. I'm hoping to get more done when I can finally pick a color. Our laundry room floor needs linoleum too. If we have any left I'd like to get a few new items of clothing and then put it in savings as a backup.
@katsmeow1213 (28716)
• United States
8 Feb 11
Sounds like a lot to accomplish! Hope you can get it all done.
@anniepa (27955)
• United States
12 Feb 11
Hey, I'm proud of you too! You did good and that should make you FEEL good. I've had similar experiences to what you went through last year, kind of blowing through more of the money than we should have and then regretting it weeks later when we still had bills to pay that could have been taken care of if we'd have skipped a special expensive dinner out or a shopping spree.
We haven't gotten ours yet this year but we should any day. It's only about a tenth of yours but that's fine, we don't have young kids to support anymore unless you count my five cats. Most of what we get will go to catch a few things up so we can start fresh in the spring. Our van will be paid off before too long so that will be a big bonus in itself.
One more thing...don't ever be embarrassed about needing dentures, Hon. I've got them too and it's really not so bad. The one absolutely amazingly wonderful thing about it is no longer suffering from toothaches! I've had some pretty horrible ones through the years that were far worse than giving birth. I know that's something people say about various things, but in this case it's the God's honest truth. Also, I once had one abscess that was so bad it could have killed me within a few days if I hadn't gotten it pulled. I had my first full-blown panic attack in the dentist's chair when he explained that to me!
Annie

@anniepa (27955)
• United States
16 Feb 11
Same here, I neglected my teeth through the years. When I was a kid I had one "perfect" check-up after another, but once I was married I didn't have dental insurance and couldn't afford to go until a tooth got REALLY bad. I had more abscesses than I care to remember!
Hang in there, the pain and soreness will be gone in no time!
Annie
@katsmeow1213 (28716)
• United States
12 Feb 11
Wow, that's awful! It's just terrible that I didn't take good enough care of my teeth and ended up needing them all pulled. Part of it was improper hygeine, but most of it was just not seeing a dentist when I should have, and not having the money to afford smaller procedures that could have saved my teeth (root canals, fillings). I have so many excuses.. "My mother never taught me the importance of brushing" "I didn't have the money for dental care" blah blah blah. Ultimately I know it's my fault. I knew I needed to brush and floss more often but didn't. My mother shouldn't have to stand over me at 20 years old and tell me to brush my teeth.. I can't blame her. I should have made the dental procedures an importance.. I can't blame the finances.
I am looking forward to the whole never having a toothache again thing.. that is of course once the soreness in my gums goes away. I too have had horrible toothaches. None were absessed, but for the past few weeks I wasn't able to chew due to an extremely sensitive back tooth. Basically I haven't had chewable food in weeks and I'm starving! But my gums are still too sore to eat right now. I have yet to be able to put my bottom plate in because my bottom gums hurt so bad.
1 person likes this

@bunnybon7 (50970)
• Holiday, Florida
8 Feb 11

@katsmeow1213 (28716)
• United States
8 Feb 11
Yes, it's today. 2pm. Good luck to both of us. I'm not looking forward to this. 



@bunnybon7 (50970)
• Holiday, Florida
9 Feb 11
i hope you got through it as well as i did. im doing a discussion tomorrow on it. im just wiped out tonight as i figure you are to.
but i think you helped the most...from mylot, cause i just kept thinking to myself, i got it easy compared to kats...hugs, bon @jesssp (2712)
• Canada
8 Feb 11
Good for you guys!! That's the best way to spend that money and the return in the long run will be amazing. Paying bills isn't very fun or glamorous but it's the smartest thing to do with 'extra' money. I think it's great that you're starting a savings account with your Subway pay cheques, also a very smart move. It's awesome to hear you guys are getting everything turned around and all your ducks in a row. And, enjoy those hot new dentures!
@katsmeow1213 (28716)
• United States
8 Feb 11
Oh funny!! Well, after I heal a little bit and get used to the dentures my smile will definitely look a lot nicer. I still hate the fact that I have full dentures and I'm only 30 years old.. it sucks! Brush and floss everyday and never skip a check up!!!
I stopped by Subway today and asked my boss if they do direct deposit. They do! So I'm going to have part of my check deposited directly into a savings account, then I'm going to open a seperate checking account and deposit the rest into that. That account will be for debts.. and spending if need be. I figure that way I can write checks for our debts instead of either buying money orders, or using our primary checking account (which we could overdraw or forget the money is there for a debt and use it.. you know, stupid stuff that is typical of us).
@dorannmwin (36392)
• United States
11 Feb 11
Well, we have to wait until next week before the federal government will accept our Federal Tax return to be processed because we itemize our deductions. That said, we know that the first thing that we are doing off the top with our tax return is that we are paying off the three credit cards that I still have in my name. This will take about $2500. The rest of the money, we don't have a specific plan for. However, I'm threatening to pull it out of the checking account and hide it so that my husband can't squandor it away.
@bounce58 (17380)
• Canada
11 Feb 11
Congratulations! It is certainly much easier to the mind if you can actually count off the things you did with extra cash. Specially if it were tax refunds.
Now, I haven't done our taxes yet, but I'm also expecting a fare amount. And there are already a few bills lined up where this extra cash would go to. And there are a couple of furnitures that I want replaced in the house. We gave away our old breakfast tables and chairs to a friend who's just starting out, so I'm hoping that I would still have cash to get a new set.













