I completed my tax return and was thinking about what I should do with the refund I will get. I find it kind of funny how my first thoughts with money are always "where should I send it" (as in IRA, mortgage, etc), while most of my friends & relatives are saying "what kind of should we go on". Am I that big of a nerd?
Why do I always think practically and most others think fun? My refund is going to be about $6K (yes, I know about the tax free loan thing) so I can do several things with the money. I also get a nice bonus from work about the same time as my tax refund. I am thinking I will send $2K to my Roth IRA, $3K extra to the mortgage, $3K to an emergency fund, and finally a nice family trip to. OK, so I too am kinda thinking about the vacation, but that is my LAST thoughts about where to send the money. I pay myself first. I have some in-laws who are well in debt that are getting a really large tax refund. They are going to run out and immediately buy a trip to Mexico and another to Disney before they spend all the money on something else (like debt). They both make good money, but they spend every bit of it (and more). I am sure to them that I am the "cheap one" who needs to loosen up and have some fun, but I guess I will have more fun later on. When our house is paid for (12/01/2012) and we are 100% debt free, I guess I will have to loosen up a bit and maybe show everyone how great it is to owe nobody nuthin. How great will it be to be known as the "smart one" instead of the "cheap one"?
Where Does Disney World Fit Into Dave Ramsey's Baby Steps?
