This year the IRS expects to receive more than 147 million tax returns. Of those filing returns, at least 75% will receive a refund.
Ok, so the money is coming in for 75% of us. Good for you if you already have your check and didn’t file last minute. Your CPA loves you. For the rest of us? We wish we were more like you. Here’s the issue: 75% of us will get some money back, but 0% of us agree on how we should spend it.
Your tax refund CAN bring you happiness!
Here are three tips to spend your tax refund and have fun:
- Check off the “shoulds” – Not so fast! Take half of the money and take care of a “should” or two. “Shoulds” are things like pay down a credit card, fund an IRA, or set up a college fund, or even add to your emergency fund. These are all considered “fun” for a Security Seeker.
- Satisfy all 4 of your relationship’s Money Personalities – Remember that your “fun” is probably different then your honey’s “fun.” That’s right. Each Money Personality looks at extra money differently. (Tweet this) Find all four of the Money Personalities in your relationship and be sure each is satisfied:
- Savers – Whatever you do, get a good deal
- Spenders – Be sure to spend it
- Risk Takers – Try a new adventure
- Security Seekers – Put some away for a rainy day
- Flyers – Do something together
- Compromise – The reason that so many couples argue about money is because we have lost the art of compromising. (Tweet this) That’s right – take half of the money and take care of a “should” or two; take the other half and satisfy BOTH of you.
Do you have any other ways to “Guarantee Divorce?” We want to tell others so we have a chance to stop it. Let us know in the comments below.
We are getting great feedback from you, our readers. You are telling us how The 5 Money Personalities book is changing the way you look at all sorts of day-to-day money decisions like this one and many others. Be sure to pick up your copy today.
Make it Happen!
Scott & Bethany
The Money Couple®
Creators of The 5 Money Personalities™
PS Here’s another article on the smart use of a tax refund – ENJOY!
Scott & Bethany Palmer are regulars on national TV and radio and speak internationally about The 5 Money Personalities™. To learn more about your Money Personalities, get FREE resources, and take the free, scientific assessment, visit TheMoneyCouple.com or pick up a copy of their book The 5 Money Personalities: Speaking the Same Love and Money Language.