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« The War Against the Rich, Part 3 | Main | Spend Like You Want to Grow Rich »

March 15, 2012


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I don't receive a big tax windfall.

I plan my taxes to be as close to zero money paid or recieved as possible.

That way I have all my money working for me and not the government.

When we were remodeling our home we turned over our tax refund check to Menards (a regional home improvement store). They gave us an additional 10% to use in the store. We were going to spend the money there anyway, so we might as well get a 10% bonus! We only did this because the refund was relatively small and we needed to buy appliances. I've heard of a lot of businesses doing this though. Just make sure you are going to spend the money at that store regardless!

One extra mortgage payment
Paying off some minor credit card debt
Paying some into the emergency fund
A small portion for free money to be enjoyed

I'm already maxing out on retirmeent savings at this point, so I'm comfortable with doing it this way.

I max out my 401k contributions.

I max out my Roth contribution.

After I give 10% of my tax return to charity, the rest does whatever I want it to. Last year it went into my 'new car' fund. This year I put it into my travel fund.

I'm getting back a big refund this year. I've been penalized twice for not paying in enough, so I have extra taken out of my check to cover my taxes. As a result of that, this year I'm getting back over 4k. I don't feel tempted to do anything with it other than move it over into my investments.

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