Tax Refund: How to Spend Yours in Smart but Fun Ways
If you want something a bit more self-serving, here are a couple of other ways to spend that refund.
Tax season is in full swing and that means if you’re one of the many of Americans that get a large tax refund, it’s time to plan how you’ll spend it. First off, be smart. There are many things like saving for retirement, investing in stocks, or paying off debt or mortgages that are smart and savvy ways to use this extra cash to make life a bit easier for you. But if you want something a bit more self-serving, here are a couple of other ways to spend that refund. Instant gratification can be a smart use of money, too.
Upgrade Your Gadgets
Echo Dot (3rd Gen), $49.99 on Amazon, Kindle Paperwhite, $129.99 on Amazon, Google Home Max, $399 at Best Buy
New versions of your favorite smart gadgets come out regularly and it’s sometimes hard to justify purchasing a new model just because, well, it’s new. If you have a smart home device, or really any tech accessory, that’s in need of an upgrade, getting one with your tax refund is a great idea. Think the newest Echo, or the new waterproof Kindle, or the all-in-one Google Home Max.
Add a Kitchen Tool
Zwilling J.A Henckels Pro 8" Chef Knife, $149.99 at Bed Bath & Beyond, Le Creuset Enameled Cast-Iron 5-1/2-Quart Round French Oven, $349.95 on Amazon, Instant Pot DUO Plus 60, $99.95 on Amazon
Tools that actually make cooking easier will always have larger price tags. These include chef’s knives, dutch ovens, or pressure cookers. The good thing is that these are tools that will improve your quality of life and when you have some extra funds, they’re something that you’ll continue to use and enjoy years after you spent the money to acquire them.
Get a Timeless Piece of Clothing or Accessory
Mackage Baya Leather Jacket, $790 at Shopbop, Acne Studios Musubi Mini Bag, $1,050 at Shopbop, The Bigger Carry-On, $245 at Away, Blundstone BL1308 Boot, $184.95 at Zappos
Splurging on a piece of clothing or accessory is something that should be reserved for classic, timeless pieces that will follow you for years to come. Leather jackets are great investments, classic handbags are great investments, nice luggage is a great investment, boots with lifetime warranties are great investments. The list goes on.
Buy That Piece of Furniture
Wick Coffee Table, $875 at Joybird, Suspend II Media Console, $999 at CB2
Purchasing a large piece of furniture can seem daunting but it’s worth it in the long run. Along the same lines as buying a classic article of clothing, find something that will stand the test of time. Think deep, sturdy wood or even marble.
Book a Trip
Vacations are expensive, in both time and money, but if you’re ready to get away, using your tax refund to head out on a trip is worth it. Do your research and find the best deals on hotels and flights, make plans in advance, and then just go have a bit of fun.
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