did you use fed tax return to pay down debt????

[flash]

Re: did you use fed tax return to pay down debt????

Congratulations to all of you! Well on the way to financial security with that attitude!

I just received a letter from my brother, he is 56, says he wants to save, but cashed out his retirement and took out a second mortgage to use the equity to SPEND...he just spent his IRS check on...an aquarium and fish!!!

I love him, and it's his money...but I'm amazed at people who want to SAVE and SPEND at the same time!

MAJOR KUDOS to all of you!

[buzz75]

Re: did you use fed tax return to pay down debt????

Yes! We threw $1500 at our HELOC. I transferred my Student Loan to the HELOC because at the time the interest rate was half of the CU student loan. With the intertest rate creeping up it hasn't been fun seeing the amount of interest every month, not to mention, I was unemployed/self-employed for 5 months previous to getting the return. (D*** Michigan economy!) I'm happy to say that I'm back to work and doing better than ever now and it feels great to be paying away those student loans once again.

[Ima saver]

Re: did you use fed tax return to pay down debt????

Glad to hear that Buzz. We are self employed and never know what we will make, so we have to make estimated payments. We got back $350, which I put in savings.

[markio26]

Re: did you use fed tax return to pay down debt????

we have a small home based business and never really know how much we will get back... i do traditional ira to bring down the taxes.. we have a 401k as well...

[Bookie]

Re: did you use fed tax return to pay down debt????

Mostly, I try to avoid both a refund and a tax bill. This year I ended up writing a check.

Boo!

[markio26]

Re: did you use fed tax return to pay down debt????

we are tax planning, better this year, i think... due to awareness; and thought.. thanks for the comments.