Ideally one plans so the refund is minimal because this money loaned to the government without interest.
I believe the prudent use is to, if one has high-interest bearing debts, pay off what one can of them.
In the absence of such debts, one weighs various needs and desires, such as savings for an illusion of future security, a relaxing vacation is normal life is tense, or an exciting vacation if life is dull.
Stay-at-home types can consider short-term and long-term investments and amusements: A wide-screen HD TV, a DVD player/recorder, a DSL or similar hook-up, a life-time membership to something or other (i.e. Artecy.com for cross-stitch), one-of-each DMC & Anchor embroidery floss, if not a new car, new seat covers. Imagine something that will make life more fun or easier through the next year.
Pay off your debts if possible if you have any and then save the rest for something else. Basically whatever you want to. I buy a treat for all my kids and myself. This year I am going to buy myself a new wardrobe as I am soon to climbing the working ladder. My kids will each get a new toy and new bedroom furniture.
It is there money so hopefully something constructive and lasting. However people that received a lot of money should really think about all the interest free money they are giving the US Government to use for an entire year! They should adjust their W withholding to reflect a more suitable withholding amount then they can have their money to use all year round as opposed to letting the government use it for free!
Whatever people feel like they want to do with it do u not get a tax refund is that why you are asking. Some people pay off credit card bills, get new items for themselves or take a vacation its up to THEM. Good luck on your refund.
It really depends on what your financial state is. Tax refund means that you have had more held back from your income through the year and the government now needs to give you back what you had held out above what you owe.
If you have some higher interest loans out, it would be advisable to get out from under these as the interest is better staying with you than with the creditor. If you are stable and already have your 6 month backup of cash reserve built, then you can do whatever you like with it but I would guess you would choose to add it to the reserve. Sometimes a nice vacation can do the soul good as well.
Go out To eat, Have Fun, Go to a Movie, Buy yourself something like clothes or shoes maybe a coat if you weren’t counting on the money then it is a gift to you we never know what tomorrow will bring
Saving the refund in the best option if you can afford to. Invest it or put into a saving account so it can draw interest if possible. At least when you do really need it, the money will be there.
I think it should go to what the person want to use it for it is there money . But its up to the person who is getting the money back . What I would do is pay off any bills that are over due and some that are current. Then I would take a little of it and put it aside for a vacation and if you have someone special maybe buy them something nice but don't forget you you need to take care of you first don't be like me and take care of everyone else and forget about yourself look out for you but in the end it is up to you what you want to do with it good luck and just take a moment and think what would be helpful to you and make you happy ..
My family each picks something that we couldn't ordinarily afford. Then we pay off our debts with some and save the rest for later in the year. Summer vacation plans, school clothes, the holidays.