Taxes

Well, it is that time of year again.  Tax time.  Recently, my husband did our taxes, thankfully we are receiving a refund.  Because we do our taxes online, we received our state refund in 5 days. Our federal refund has yet to be deposited, I am sure that we can expect to see that small windfall soon.

With a tax refund, it can be hard to decide what to do with it.  Pay bills?  Save it?  Invest? Go on vacation?  Home Improvement?  The list can go on and on.  My husband and I didn't really discuss what we are going to do with this year's refund, we are both on the same page right now with finances.  Unfortunately, we are in desperate need of a new roof, so part of the refund will be going into the roof fund that we have established for that home improvement project.  The rest of the refund will be going into the emergency fund that we have established.  We are trying to reach the 6-9 month salary goal that so many financial experts are telling us we all need.  We are getting there, but I wish someone would tell me how you are suppose to reach that goal when other financial obligations get in the way.   

In years past we have used the refund as fun money.  Last year, our taxes helped fund a vacation to Italy that we took with my parents to celebrate my father's birthday.  Two years earlier, we went to Scotland, again the refund helped fund that vacation.  I am hopeful that when I am writing about the refund we receive from our 2009 return it will include plans for another vacation.  We are cautiously optimistic that things will improve in not only the US economy but the international economy as well, and that we can use the tax refund we will receive next year for something we will all enjoy as a family.  Until then, we are going to do what so many people are doing these days.  We are going to hold onto our money, preparing for the worst but hoping for the best.