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I need some advice. I got a really decent refund


Posted: Feb 29, 2012

this year.  I paid off ALL my cc debts.  I still have a couple thousand left.  How in the world do I not spend it?  LOL!!  May sound like a silly question, but my mind says it is there...spend it!  My mature self says no way!!  Save because you WILL need it sooner or later.  Does anyone have any good ideas on how to "forget" about the money?Undecided

;

advice on refund - jan2

[ In Reply To ..]
Buy a CD (certificate of deposit) at a bank, one that doesn't mature for a year.

What I did - Dyz

[ In Reply To ..]
I put mine in a savings account in a local bank that's just a little far out of the way. It discourages me from going there.

Ingdirect.com try that. Off and on I try to make - sm - XXX

[ In Reply To ..]
a slush fund of sorts using an account I set up with them. Think it has about $20 right now, need to set up deposits to it again so I can get that built back up. I use it most for car repairs, etc. so I usually need it at some point then have to start all over. But it is all electronic so it is easier I think not to mess with since there is no physical bank. I do not have a bank card for it so I cannot easily spend it (have to transfer it out to my regular checking account at my local bank). This way it is still accessible but not tied up for six months or a year in a CD, and it still makes a little interest. You will regret it if you spend it though.

I still need to do the taxes, not looking forward, owed $1400 last year, but did do some estimated payments this year but don't think nearly enough especially since I made about $6K more this year due to really busting my buns. So if I owe don't think it will be more than $600, but really hoping on a refund but if I get one of those it won't be more than $200 probably. Guess I will find out.

I need some advice. - greyhound mom

[ In Reply To ..]
Without a doubt, I would put that money into a savings account. What if you have some sort of unexpected emergency. If you do decide to save the money, I think internet banking is wonderful for my savings. I have money taken out every month from my checking account to go into that and don't even miss that money from checking. Congratulations that you paid off all your debt. I did that a couple of years ago. Isn't that just a wonderful feeling!

Most definitely!! Thank you all for your advice. I think - sm

[ In Reply To ..]
I am going to open a savings account!

Agree w/ all of the above - posters

[ In Reply To ..]
We paid for half of a $30K truck for my hubs w/ spare change and $1 bills he saved and put into a savings acct. He needed the truck for work, but we're building the account back up so that I can have a "new" kitchen.

you should change your withholding - not an expert

[ In Reply To ..]
so you have more money in your paycheck and don't have to use CCs (better cash flow) and/or invest/save via personal preferences regularly during the year. Then you won't have to have a bundle of cash (fun money) in your pocket in Feb.

I'm not saying this as a commentary on government, but this is one instance where you can take control of your money rather than leaving a year's worth of withholding for others to invest.

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