Tax refunds come just once a year, and not everyone gets one. There are plenty of practical ways to spend your refund, especially for those with significant debt, like paying down credit cards and mortgage loans. For those lucky enough to have made it through the year without major debt, a tax refund can be the universe’s way of paying you back for year of hard work.
Here are 9 fun ways to reward yourself with your 2017 tax refund.
Take a Trip
If you’ve had a destination on your mind for a while, pull that picture off your vision board, and book that trip. A tax refund may be just the excuse you need to finally secure those travel plans. A good vacation can be the repayment you’ve earned for making it through another year of working at that 9 to 5. A vacation can relax and re-motivate you to get through another year of hard work.
Check Something Off Your Bucket List
Avoid spending your tax refund on fancy dinners or short-term pleasures you’ll soon forget. Instead invest your tax refund on something you’ve always wanted to do like skydiving, cliff diving, or snorkeling. Have you always dreamed of sitting front row at a concert from your favorite performer? Or watching a Broadway show? Now is your chance to check those things off your bucket list.
Filing your taxes can be stressful. Add that stress on top of your normal everyday responsibilities like your full time job, child’s activities or running a household. Use your refund to pamper your mind and body with a relaxing massage, yoga classes or cleansing facial. Revive your spirit with a trip to the spa, and recharge your battery for another demanding year.
Finish Home Repairs
Investing back into your home is one of the best ways to spend your tax refund. The remodeling and additions you make to your home now often come back to you at the point of sale. Replace old windows, redo that outdated kitchen, or fix leaking faucets with your refund to increase your home value. Repairs can also help you reduce your monthly utility bills. By replacing old windows you can prevent heat or cold air from escaping your home, reducing the need for heating or air conditioning. By fixing leaking faucets you can also decrease your water bill.
Give Back to Your Community
You can use your tax refund to give back to your community through charitable donations. Donations also have the added benefit of reducing your future tax burden, as donations are tax deductible. You can find local charities through a quick online search, or your local government’s website.
Invest in Your Education
Technology is advancing faster than it ever has before, making it almost impossible for us to keep up with new tools and updates. Use your refund to invest in online classes or courses at your local community college to stay on top of trends, and build upon your resume. Many companies offer promotions, bonuses, and other incentives for employees who seek additional education. Ask your employer about education incentives, and put your tax refund to good use.