Make the Most of Your Tax Refund – Are you Spent?

Anticipating your tax refund? Of course!

If you want to make the most of your tax refund, you are like a lot of other people. Who doesn’t want to get back a chunk of the money they earned from Uncle Sam? For many folks, it’s the largest lump sum payment they will receive in the given year. People look forward to it for reasons ranging from catching up on bills to a down payment for a major purchase to getting out and doing something fun. Everyone would like to make their tax refund go farther for them.

Does it improve the health of your financial life?

There is so much advice out there on how to spend your tax refund. You certainly have numerous ideas of your own! But much of that advice doesn’t really touch on making the most of your tax refund by improving the health of your financial life. Quite a few people are dependent on their tax refund as a result.

Want to make the most of your tax refund?

Work to break your dependence on it through budgeting and financial awareness. A budget does not have to be an intimidating, difficult beast. It can be as simple or as complicated as you want it to be. The idea of a budget is not only to track what you are spending, but help you identify areas where you can cut costs and keep more money in your pocket.

Are you Spent?

First, play the quick online game Spent to see if you can avoid becoming homeless.  If you think, “never, not me,”  keep in mind that it can only take one major life changing event to become homeless if you aren’t prepared.  Budgeting of course is one way to consider building savings.  But for a lot of people, minimum wage doest cut it and they can’t.  Some people can’t make the most of their tax refund because they use it to stay afloat. You should see what it’s like living on minimum wage. After you play the Spent game, you will see quickly how living on a minimum wage can impact your life.  It’s an eye opener.

Consider some things to keep more money in your pocket.

Nonessential, convenience expenses add up pretty quickly. Things like buying coffee from coffee shops, junk food from vending machines at work, and eating out all take valuable funds away from paying down debt or saving money.


It’s very expensive to live in certain areas as well. The optimal range for housing is about 30% of your take home pay; but for some unfortunate people who live in a cities like San Francisco or New York City that can be a difficult limit to stay under, even with roommates.


Automobiles? Optimal range of expenses is about 15% of your take home pay. But, many of us spend more than that by buying too much car or with the added expenses of repairs and insurance.

Easy way to start looking at your budget and make the most of tax your refund.

Budgeting and tracking your money doesn’t have to be a complicated mess of spreadsheets. Apps like Mint, You Need A Budget, and Good Budget can all easily help you track and get your spending under control. Make the most of your tax refund by understanding where your money is going.  It gives you greater control in battling down your debts and decreasing your reliance on receiving your tax refund. By doing so, hopefully you’ll be able to land more on the side of doing something fun or notable with that money instead of just dumping it onto bills or necessary expenses.

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