tag:blogger.com,1999:blog-6898600225899233976.post3907388461422340870..comments2023-08-03T09:59:03.026-04:00Comments on Money Life Debt: What will you do with your tax refund?RyansDadhttp://www.blogger.com/profile/04822162896079623195noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6898600225899233976.post-8939079039454431372009-03-07T21:10:00.000-05:002009-03-07T21:10:00.000-05:00Hey, Thanks for your comment first of all! You mad...Hey, Thanks for your comment first of all! You made some great points! I would love to be investing period! But I have a ton of debt! They say you have to tackle that first,before you can begin to build any wealth. Plus, being in a lower income bracket, you can receive an earned income credit for having a child. They give that once(in your refund)! RyansDad www.moneylifedebt.blogspot.comRyansDadhttps://www.blogger.com/profile/04822162896079623195noreply@blogger.comtag:blogger.com,1999:blog-6898600225899233976.post-75573483669519602822009-03-06T23:48:00.000-05:002009-03-06T23:48:00.000-05:00I somewhat see a different side to it (heh, hows t...I somewhat see a different side to it (heh, hows that for a nice way to say I don't completely agree). If you're getting a tax refund every year, and it's quite substantial...you're probably having too much money taken out of your paycheck monthly for taxes. So, say you got $2400 back on your taxes. That means you're giving the government $200/mo too much each month on your income tax. You've essentially given them a 0% interest loan for 12 months for $2400.<BR/><BR/>I know it seems great to get that nice shot in the arm at the end of the year, but you could do the same by dropping $200 a month in a money market account or a CD for the same amount of time, and while small, at least get some interest off it. Plus, I think I'd rather have that extra $200/mo to use in my budget each month rather than having to wait for it until the end of the year because the government was holding it for me.Anonymousnoreply@blogger.com