5 Awesome Ways to Spend Your Tax Refund

If you haven’t heard, I’m and accountant.

And I love it.

But it’s tax season.

Hopefully tax season has been awesome for you (ahem – refund!) but for us accountants it’s a pretty tough time of year! We work 70-90 hour weeks and are entrusted with people’s livelihoods and their very personal information.

But it’s totally worth it, because so many people look forward to their tax return each year! Despite what you have heard about it being “bad” to receive a tax return, I’m here to tell you that there’s really nothing wrong with getting a large tax return.

It’s all about knowing yourself – how much money you need to live on each month and whether or not you can control your spending if your paycheck has less tax withholding and more take-home pay. I’ve seen people successfully use their tax return as a form of savings account because they know they’re more responsible with a big chunk of change each year than with smaller amounts each month or paycheck.

And it’s totally OK! Here are some great ways – some responsible and some not so much! – to spend your tax refund this year!

Stress Relief –

A day at the spa, a massage off of Groupon, or even a day at the shooting range can all be great stress relievers. If you’re getting a big tax return, one of the first things I would think about was buying a bit of stress relief. Do what relieves stress for you, because this time of year can be really stressful, even for non-accountants!

Debt Payoff –

We have been known to use taxes as a type of “savings account” because we find that it is easier to pay off debt in large chunks once a year than to pay it off monthly. Not only does it make saving automatic, it feels oh-so-good when you put all or most of your tax refund towards debt payoff.

Peace of Mind –

We’ve had our fair share of ups and downs with cars. We’ve bought new, used, financed, and for cash. But of all the vehicles we’ve bought, we’ve been most happy with the used vehicles we’ve bought! If you’ve been struggling with vehicle reliability (and let’s be honest, that really messes with your head!) then a great way to spend your tax return would be to buy a used, reliable car like these from DriveTime. It would be a big purchase to save up for throughout the year, but using your tax return can either lessen the cost or completely pay for your car.

Value –

You’ve had your eye on that $500 European knife block set for months. You’ve researched, asked friends, read about 100 reviews, checked out their warranty, and scouted around for the best price. Now that you’ve received your tax refund, it’s time to spring for that knife block set. Why? Because it will add tremendous value to your life. That knife set will last you for the rest of your life if you’ve chosen well, and while it may seem like a huge investment up front, the value you will get from it for years to come will be exponentially more than you paid for it. Use you tax refund to lessen the blow of big, value-added purchases.

I've Always wanted a Jeep, haven't you? — I’ve Always wanted a Jeep, haven’t you?

An Experience –

Assuming you don’t have a ton of debt you need to pay off, consider using your tax return to pay for an experience that you wouldn’t normally be able to afford. Flights, hotels, and even dining out abroad are very expensive, but with your tax refund you might just be able to afford a spectacular trip!

What will you spend your tax refund on this year?

This is a sponsored conversation written by me on behalf of DriveTime. The opinions and text are all mine.