What do you plan on using your tax returns for?

[Joeyman]

I plan on paying off my student loans, although the tax returns won't cover all of it I can cover the rest with savings. Woot I will be debt free on March 5th!

[Finance Globe]

A BIG congratulations!

[smcc]

With unemployment at 9.7% and no one's job written in stone, putting the money in the bank.

Currently no CC debt, and only my car note, seems like the best plan for me

[cce]

I'm saving all of it. Nobody knows what the next couple of years will look like.

[Wanderer]

All - The state universities in Minnesota are cutting programs by 6% to 10%, due inpart to their inability to raise tuition which is already on the high end for a state run facility and the State of Minnesota's lack of incoming tax revenue. The academic side of things has been untouched for 30+ years but now a reduction in "majors" and "programs" is being worked through the system. One university noticed 82+ professor's that their jobs would be eliminated over the next two years. The ivory tower is going to find the real world. Internally, a professor and staff member told me they need a good shake up just to remind them what all the rest of us live with...! Well they are going to get one now. Tax revenues in all but two states (Montana & North Dakota) are bad news and serious reductions in service will be coming over the next two years (read this in the last week Wall Street Journal & USA Today). People need jobs to earn money to spend and "baby boomers" are retiring as a group and will not be serious spenders in the future. Gen "X" and Gen "Y" the ball will be in your court! The state university system believes the troubled revenue flow will run into the 2012-2013 academic years. Not making me very happy.

[KIEJON9]

I plan on paying off my student loans, although the tax returns won't cover all of it I can cover the rest with savings. Woot I will be debt free on March 5th!

congratulations

[KIEJON9]

putting the money in the bank

[maureen]

I plan on paying off my student loans, although the tax returns won't cover all of it I can cover the rest with savings. Woot I will be debt free on March 5th!

CONGRATULATIONS! I bet it would be one of your happiest days.

[Wanderer]

joeyman - you are making very serious progress in your financial world. Breathe... WOW, I was able to work two to three part-time jobs and had the GI Bill so I could afford to attend college. The most I ever borrowed was $125. Today... GADS!!! Nice work. You can be very happy with yourself.

[hjm331]

Joeyman, I admire your desire to become debt-free but that might not be the smartest thing to do nowadays. With high unemployment rates, you never know what's going to happen tomorrow so therefore, keep the money in your bank account. Credit card companies are trying very hard to convince consumers to pay down their balances by adding incentives to sweeten the deal.

[Joeyman]

Joeyman, I admire your desire to become debt-free but that might not be the smartest thing to do nowadays. With high unemployment rates, you never know what's going to happen tomorrow so therefore, keep the money in your bank account. Credit card companies are trying very hard to convince consumers to pay down their balances by adding incentives to sweeten the deal.

I agree with you Hjm, but my situation is nice. I'm living with my parents and have expenses of about $500/month. My income is about $2,600/month. I plan on moving out in about 2-3 months... The thing is with my private student loan, the interest rate is 13.25%. By looking back now, I was rushed by my school to present financing. I regret it terribly. But, I have the opportunity to pay it off. I'll still have minimal federal loans (with low interests rates) with a payment of only $50 (five year period). By paying off the loan; I'll have more money per month living on my own later. Also my job is secure, I work in health-care at a hospital. I actually get great overtime opportunities with double time (but I like my days off, lol). Thanks for the responses everyone! :D

[Joeyman]

I'm saving my tax returns money this year. However, not getting back nearly as much as I did last year. The money will be a nice addition to my savings.


I hope everyone else is or will be enjoying their money...