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What to do with BIG tax refund?

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Old 02-03-08, 03:13 PM
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Zeus69
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Originally Posted by AsianGirl007
Being single, I cannot adjust my tax withholding anymore than it already is and I've gotten large tax refund checks as well so I'm still confused.
Did I miss something? lol
Even if you're single, you can change your number of exemptions. I think I improperly used the word "dependents" in a prior post and made things sound confusing. Sorry.

This might help -- http://www.bankrate.com/brm/itax/tips/20010124a.asp
Old 02-03-08, 08:01 PM
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Buds
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save it for a rainy day. you never know what's going to happen in this economy.
Old 02-03-08, 08:36 PM
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ggzoa
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How about you just send me the check. I owe Uncle Sammy this year. Your refund should just about pay me off.
Old 02-03-08, 08:41 PM
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iialcii
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bank it. buy something nice for you and your significant other and save the rest. since ur car is leased.
Old 02-03-08, 10:26 PM
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sirkfc
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remember. a tax refund from your filings isn't really new money. It's money you shouldn't have paid in the first place... so it's not like you really got something out of the blue.
Old 02-03-08, 10:57 PM
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jackblack7
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Originally Posted by AsianGirl007

May I ask why you think a large refund is a bad idea?
As someone already mentioned, you're giving the government an interest free loan. That's a very poor use of one's money. I'd love for the original poster to give me $800/month...I'd stick it in my E-trade account and earn an easy 5% on the money...then I'd give him his money back at the end of the year.
Old 02-03-08, 11:33 PM
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alan8888
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there is no refund to me
Old 02-03-08, 11:45 PM
  #23  
fleadog99
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Maybe we should close this thread since it is going towards financial advice, I have decided to save it, I just need to know where to put it to yield the highest gain or interest, I currently use BOA. Which savings account interest rates suck. I hear etrade bank savings is at 4.4 Which sounds pretty good? If you have ideas for TRUE financial advice please pm me. Thanks again to all.
Old 02-04-08, 03:00 AM
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LeslieRC
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Put the money in the bank. Get a jumbo CD and forget about it for the next several years. DON'T use that money to get out of your lease; that would be like lighting a match under it.
Old 02-04-08, 07:28 AM
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Brian231
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Yes, Save the money, I am sure your car looks awesome as it is and drives great. Save Save save!!! You will be much more happy. I would like to reccomend a Simple IRA!!!! You will be so happy you did it down the road. Cars are such a bad investment, but we all love the,. it is my most wasteful hobby!!!
Old 02-04-08, 09:46 AM
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i agree...invest in that 10k....cuz then later in the future you'll ask us again, "what should i do with $100,000"? you'll look back and think dayam...good thing i invested in that money. =)
Old 02-04-08, 10:17 AM
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TLe2006
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or do double or nothing in las vegas. lol
Old 02-04-08, 10:23 AM
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ReLexin
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Don't be stuiped with your money.... Especially in times like these... There is a could be resession on hand. Keep the car that you have and bank the 10k. Thats what i would do...
Old 02-04-08, 10:24 AM
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Try to put that money in an Everbank account. they offer a high interest rate.
Old 02-04-08, 10:25 AM
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AsianGirl007
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Originally Posted by jackblack7
As someone already mentioned, you're giving the government an interest free loan. That's a very poor use of one's money. I'd love for the original poster to give me $800/month...I'd stick it in my E-trade account and earn an easy 5% on the money...then I'd give him his money back at the end of the year.
I can't change my witholdings anymore than I already have. Of course I'd love to get a bigger paycheck and give the government less money, but that's not a reality when you aren't self employed.


Originally Posted by ThoLe
or do double or nothing in las vegas. lol
Now you're talking!


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