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SaveorSpend.com - A Taxing Decision  
       
Saving Stories
 
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0
 
Four Kids Under 12  

Posted on 2/9/2010 by: Chris from: Winston Salem, NC

Need I say more? We're definitely putting as much as we can in 529s!!

 
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0
 
Save alot Spend a little  

Posted on 3/15/2008 by: Wyvonne H. from: Los Angeles, CA

Well the blessing is that I have little debt.
I first paid off an American Express Credit card of about $500+.

It was easy for me to than spread the remaining refund tax dollars to different accounts. I put some in my money markets, IRA account and my checking account. I have allocated funds to use for personal fun things.

I also set aside funds for my church and other charitable donations. I believe it is also important to use the dollars for other than your on personal needs.

I challenge us to manage or rule our money and not allow it to rule us. I am working on myself daily in this area.

Thanks for allowing me to share. Enjoy you refunds!
God Bless, Voni

 
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0
 
make your refund work for you  

Posted on 10/29/2007 by: Wendy A. from: Bangor, ME

You say I have so many bills to pay when I get my refund and at this rate, I will never save anything, Just open an Savings and deposit it!
Meet w/your bank's loan officier & tell them pay depts - borrow (1000) use savings as collateral. W/most banks its that easy, (if you get 3,000), keep the loan at 1000, and do 3 loans at different times, for 12 - 18 mos pmts are 85.00 a mo. for a yr, use the money to pay your bills, get your CR report from bank, they'll get one when they do your app, - dispute debts that are not yours or old, they have to verify within 30 days. end of the yr, loan is pd, money is still in savings,- credit score will increase 15-20 pts. for a repaid obligation. My credit was 580 3 yrs ago, score now is 720, and a savings . Note, if you don't have income to make the pmts. you can open another savings, dep your loan, and take your pmts out of that acct, that way you are building your score, with no risk. Good luck,high credit scores open a lot of doors!!

 
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0
 
A Healthy Mouth Remake  

Posted on 5/31/2007 by: Theresa G. from: Wooster, OH

Hopefully, I will have a healthy mouth after my dental work is completed. I have always had bad teeth and I always hoped for nice looking healthy teeth. I have always felt self- conscious because of the way my teeth are; I have always felt unattractive because of same. I hate to spend the money on myself, and if it were a simply cosmetic improvement, I would not consider it a worthwhile investment. However, in my case, my gum health as well as my teeth health are at stake. I hope to be able to keep my teeth and make the $10,000+ investment a very worthwile one. Other than that, I plan to save, save, save...

 
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0
 
" You can't miss what you never had"  

Posted on 5/31/2007 by: Velma G. from: Harpers Ferry, WV

Take every income tax refund check and stick it in a savings account, money market account, IRA, etc.
Just don't spend it. Ask for a check or deposit directly into the above mentioned accounts. If your hands never touch the check and you never had the check you will never miss it. Remember you can't miss what you never had.

 
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7
 
Paying down credit card debt  

Posted on 5/31/2007 by: Pam C. from: Manchester, NH

We received a large tax return this year. With it we paid off the smaller credit card balances and applied several thousand to our Visa. We have excellent credit, but soon after I received our refund our credit card company increased our fixed interest rate. We have never had a late fee or even come close to our limit. I called my Visa company and asked them to lower the fixed rate. They refused, so after being a good customer for over 5 years we transferred our balance to another lower fixed interest rate Visa. We will pay no interest on the balance transfer until next August. We have learned our lesson. We thought that since we had a low interest Visa, we weren't spending much on interest. We charged things we didn't have the cash for. My husband works on commission and we know that he will receive enough money to pay off the transferred amount in less than 6 months. Now we are going without until we have the cash to pay for it. What a great feeling!

 
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19
 
Saving money the past 19 year  

Posted on 5/31/2007 by: Denise S. from: Stoughton , WI

We only purchase items we can pay for by the end of the month . Use a charge card that sends money at year end.

Our 14 year old gets$7.00/week allowance, and we put a time frame on her for saving toward what she wants. She sets aside an amount and at the end of the goal date we chip in the same amount as she has saved.

We don't waste money on Anniv/Bday gifts to each other. We'll purchase something large for the house if needed with that money.

Tax refunds go directly into savings.

We deposit 1/2 of our paycheck in savings. Invest at work.

Purchase some clothing items at gently worn stores like Platos closet. At Stores-if it's off the rack it' almost always on sale.

Research large purchases,find reviews for the best item at the best cost. Don't buy on impulse.

Buy in bulk and Foodsaver the food and freeze it. Shop once a week. if you don't go in the store you won't buy anything. Use Coupons-but only on items you normally use.

 
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0
 
Saving gas  

Posted on 5/31/2007 by: Claude P. from: Trinity, NC

Do all errands at the same time to save gas!

 
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8
 
Saving for next year  

Posted on 5/26/2007 by: Steven W. from: Little Rock, AR

We spent our tax return from last year, but that was on new tires and repairs on our van which will be paid off at the end of this year. Now we are saving money at 5.05% interest in an HSBC account for next year's taxes because we are not expecting a return. We could increase our withholdings, but this way we get the interest off of our money, rather than Uncle Sam.

 
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143
 
Saving for the future  

Posted on 5/12/2007 by: Jennifer S. from: Rutland, VT

When we recieved our tax return this year, I used my paypal account as our savings account. It varies from 3%-6% interest. It is higher than any savings account at the banks in our area and I get 1% cash back on purchases made with my paypal debt card. I also invested a 1/4 of our return in Sharbuilders stock website. I stared investing every year in 2003 and have more than doubled my account balence in shares.

We do not spend our refund on daily living. That way when unexpected things happen during the year, like car repair, house repair, or health and dental issues arise we have money set aside for it. It is also great when there is something special that you would like to buy, like a big screen plasma TV

Our saving has had an impact on our children too. They save their birthday and christmas money, allowence too . One of the best life lessons a child can learn from their parents is to save for what you really want and not rely on credit.

 
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  Put the 'Fun' in Refund
   
Hi!  I’m Tax Time Trisha

Did you know that Libras expect the largest refunds?

How do I know? Well, I’m a real refund know-it-all! In fact, when it comes to spending and saving, there isn’t much I don’t know.

Don’t believe me? I’ll prove it! Let’s play ‘Save Or Spend?’

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Have larger plans for your tax refund? Use this simple savings calculator to see how investing your refund can make it grow over time.
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