Tax Refund: How to Spend Yours in Smart but Fun Ways

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

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

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

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

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.

Scouted is internet shopping with a pulse. Follow us on Twitter and sign up for our newsletter for even more recommendations and exclusive content. Please note that if you buy something featured in one of our posts, The Daily Beast may collect a share of sales.