Spending Your Income Tax Refund

Tax time is here. You’ve probably filed your income tax return and maybe you’ve even received a refund. Assuming you don’t have outstanding bills to pay, you now have a little windfall.

Since a tax refund is usually “found” money and not part of your regular budget, why don’t you spend it on something that’s not part of your regular budget? Here are some ideas.

Vacation fund

It’s the perfect time of year to plan for a vacation. Use your refund for a quick getaway, or add it to your existing vacation fund to upgrade a trip you’re already planning.

Home improvements

Your home is probably your biggest investment. It’s actually pretty responsible to spend your refund on things that will increase its value, like repairs or upgrades. Think about the little home projects you’ve been meaning to start but didn’t have the cash for during the year.

New vehicle

If you’re in the market for a new vehicle, consider using your tax refund towards a down payment. What better way to enjoy the open road this spring than cruising in your new car or motorcycle?

Then protect it

Now comes the fun part – deciding how to use it. Whatever you choose to spend your tax refund, keep it protected with trip insurance, property insurance or auto insurance from Nationwide.

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