Create Memories With That Tax Refund
BOSTON (CBS) - Experiences are more important than owning a closet full of things. We need to be safe, clothed and fed. If you have all of the basics down and you are not carrying credit card debt consider spending your refund creating a memory for your family.
Create Memories With That Tax Refund
A word of caution, it's truly not constructive if you create debt creating those memorable moments.
If your credit card debt is paid off consider stashing the money in a Christmas Club. I know it is nine months away but having Christmas covered so you don't go into debt is a very good financial move. You could also then take advantage of the sales throughout the year so you are not crazed come December.
How about a family vacation? You could do something during April vacation or wait until the summer. Think of the fun you will have creating the memories while planning. From experience I know that half the fun of a trip is the planning.
If a trip to Disney isn't covered by the refund start a vacation fund and have everyone contribute what they can and when you have enough dollars you go. Again, you don't want to end up using credit to pay for the trip.
Make this a family affair. Entertain ideas from everyone and vote on them. Where do you want to go? National Parks? Washington, DC? Disney? A road trip? Let the kids do some of the research. Should you fly? Driving more economical?
By making it a future trip you are teaching the kids a great financial lesson. Learning to save for a future goal. So often instant gratification gets all of us in trouble for you want it now and if you have a credit card you can get it now.
And if you are single, blow it on a vacation or an experience you have always wanted to try. Sky Diving? Not my first choice but it's your vacation. As for me I vote for the Emerald Isle.
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You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m., 3:55 p.m., and 7:55 p.m.
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