What to Do With Your Tax Refund

Tax day has come and gone and refund checks are being mailed out everywhere. Here are some ideas based on the average refund of $3,120.

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Cheap

  • A staycation

Depending on where you live, a staycation can provide all the comforts of a trip, without the hassle of an airport or road trip. While you may be staying in town near friends and family, tell them you are going out of town. This will help it truly feel like a day or night away. Make reservations at that one restaurant you’ve heard about all over the internet. Book a room at that special hotel that catches your eye on your daily commute.

  • SAVE!

This is the cheapest option of them all, it’s free! Put the money away and save it for a future trip. You’ll be able to do more and go further with a bit of extra money. Sometimes increasing your travel budget by just a few hundred dollars can increase your opportunities tenfold.

Moderate

  • Some camping gear

This will last you for years to come. A nice tent doesn’t cost very much, and neither does a light sleeping bag. Find some flashlights and you have almost everything you need. Depending on how many camping trips you plan to take, you can always add more gear as you go. Now you have what many consider the best hotel room in the world, as long as you don’t need any room service or Wi-Fi.

  • A weekend trip

With the price of gas so low, all you need to worry about is how long of a vacation you want to take. Airline ticket prices have not fallen as dramatically as gas, so it is worth considering places within 5 hours of where you live. In the diverse landscape of the United States, this can take you worlds away.

  • Amusement Park

One of the most traditional family vacations is a trip to the amusement park. Almost every place in America has one within a decent driving distance, but if you can, Orlando is the place to be. Disney, Universal, and SeaWorld are all there. Plus there are tons of other smaller attractions around town.

All out

  • A long weekend

This one is pretty ridiculous and not recommended, but who says you aren’t allowed to treat yourself every once in a while? Take a flight to somewhere (first class of course). Book a stay at a luxury five star hotel and make reservations at the very best places in town. Order some room service, throw out some tips and just treat your refund like you just won going all in at the casino. Of course throw in some shopping along the way. On Sunday, board the plane (ahead of everyone else) and prepare to return to your normal life.

  • A week

Taking a week off affords you the time to travel to more exotic places such as Europe. Take some time and make a city your home for a week. Do more than just the usual tourist spots and recommendations, and your dollars will go farther. This is true for almost any destination. Remember this is a spontaneous trip; if you try to visit too many places you can end up making travel more of a chore than anything else.

  • A whole month

Pack your bags and contact the post office, you’re going to be gone awhile. A full tax refund can last for months in countries such as Colombia. A delicious, three-course meal runs for as low as $3 dollars. An ocean view villa would normally be well out of most people’s price range, but at just $25 it’s just half a tank of gas. Really with a budget like that, the only thing you need to worry about is having a job when you get home.

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