Tax Refund: What to spend it on?

"KusabiSensei - Captain of the Toronto Maple Leafs" (kusabisensei)
04/14/2014 at 10:52 • Filed to: taxlopnik

I'm horribly indecisive, so I'm asking for help, Oppo. Due to me being excessively lazy with my accounting, I overpaid tax by a bunch, and it got sent back. What should I do with it? I have some ideas:

1) Do nothing, save it.
2) Buy track tires and wheel set. I could just get new tires, since I've worn the shoulders out on the fronts on the Z4.
3) Buy some ice skates and start skating again after 17 years.
4) Other....like buy an old Range Rover, or Oppo's choice.

DISCUSSION (33)

offroadkarter > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:56

Save it, thats what I did. I opened up a savings acct and put away my 1800 dollar tax refund.

Sn210 > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:56

go for new tires, you're going to need them anyway

ttyymmnn > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:56

Hookers and blow.

Brian Silvestro > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:56

How long have you had the Z4?

Dukie - Jalopnik Emergency Management Asshole > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:56

Save 50%, use the other 50% for tires and get wheels off the Craigslist/eBay.

RacecaR > ttyymmnn
04/14/2014 at 10:57

ahhhh, beat me to it!

davesaddiction @ opposite-lock.com > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 10:59

Do you have sufficient savings? If not, save it.

If so, track wheels and tires is where I'd spend it! Sounds like you might need camber plates.

I spent a little of ours on new pedals and a ZCP-style shift knob.

Kinja'd!!!

KusabiSensei - Captain of the Toronto Maple Leafs > Brian Silvestro
04/14/2014 at 11:00

2 years. I bought a 2007, solely because I've never been sold on hard top convertibles. Been tracking it for about 6 months, and still enjoy it.

The Dummy Gummy > offroadkarter
04/14/2014 at 11:00

I'd recommend a Roth IRA over a saving account since saving account don't make much. Or if you need immediate withdrawal open an account with a credit union and at least earn 1%.

KusabiSensei - Captain of the Toronto Maple Leafs > ttyymmnn
04/14/2014 at 11:01

This is likely the most reasonable.

offroadkarter > The Dummy Gummy
04/14/2014 at 11:01

I already have a Roth IRA setup. My IRA isn't my "new DD" fund, my savings acct is.

Jagvar > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:01

Fleshlights.

Don't google that at work.

Brian Silvestro > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:03

Sell it, time for something new. You are an auto enthusiast after all, don't you want to experience as much different kinds of cars as possible in your life?

Sorry, I look at it through the "Chris Harris" type of view which means trying to drive every kind of car before you die. But if you still like it that much, keep it, and save that cash for when you do buy a new car.

KusabiSensei - Captain of the Toronto Maple Leafs > davesaddiction @ opposite-lock.com
04/14/2014 at 11:03

Oh there are plenty of savings set aside for various issues. I'm thinking about keeping the staggered setup, but I could drop the rear back to be square with the fronts.

I've found a few wheels in the stock size with stock offset for reasonable cost, so it might be part of the running.

KusabiSensei - Captain of the Toronto Maple Leafs > Jagvar
04/14/2014 at 11:04

Not sure if serious, or just think that squishy tools with plastic cases are good things to have in a toolbox.

yamahog > offroadkarter
04/14/2014 at 11:05

I'm no accountant or anything, but did you already max out Roth IRA contributions? I'm getting much better returns on those funds than anything in savings, and after 5 years, you can withdraw without tax penalty.

ncasolowork2 > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:06

Save most of it for when you need it.

offroadkarter > yamahog
04/14/2014 at 11:09

my savings acct didn't exist until 2 days ago so

I let my dad deal with my finances since he has a masters in finance with a background in finance and accounting, meanwhile I'm in IT lol

KusabiSensei - Captain of the Toronto Maple Leafs > Brian Silvestro
04/14/2014 at 11:09

Considering I just got the Mini in December...and I do like soft top convertibles...

I'd likely hold on to it...until I can get the insurance down enough to make a Mustang GT not completely out of the question.

Or an S5.

Kailand09 > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:10

Save it. I always find it best to just save tax refunds so you never rely on it for something.

If you decide a month away you want to buy the track stuff for the Z4, it isn't solely because you wanted to burn the refund. That way, you sit on it and think about it.

Brian Silvestro > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:11

S3 convertible, duh.

Kinja'd!!!

davesaddiction @ opposite-lock.com > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:12

I've also been wondering about getting a square setup eventually for the track...

KusabiSensei - Captain of the Toronto Maple Leafs > Kailand09
04/14/2014 at 11:13

I'm perfectly fine letting it sit for a while. I mean, my local hockey shop can't even get skates for me for at least a month.

yamahog > offroadkarter
04/14/2014 at 11:14

Ah ok! and lucky you, my dad's a civil engineer who gave me the solid financial advice of "what do you need to build credit for?" and "don't bother paying back those student loans, the government's going to fail anyway."

Luckily, my own strategies were a bit better.

KusabiSensei - Captain of the Toronto Maple Leafs > Brian Silvestro
04/14/2014 at 11:16

This would depend on if it has two or three pedals.

But a Cayman S could also qualify for an "Of Happenings"

KusabiSensei - Captain of the Toronto Maple Leafs > Brian Silvestro
04/14/2014 at 11:19

Also, don't forget the Alfa 4C.

If it ever gets to the US.

offroadkarter > yamahog
04/14/2014 at 11:19

your dad sounds like someone who would be fun to have a beer with haha

yamahog > offroadkarter
04/14/2014 at 11:22

Yea, tons of fun... until he started drunkenly telling my then-boyfriend how I was conceived. TMI, Dad, TMI, and now I can never look at rental cars with sunroofs the same again.

Brian Silvestro > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:22

Dude, 4C over EVERYTHING

Merkin Muffley > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 11:48

no, it is something you are supposed to put your squishy tool in.

KusabiSensei - Captain of the Toronto Maple Leafs > Merkin Muffley
04/14/2014 at 11:51

You speak from experience?

Merkin Muffley > KusabiSensei - Captain of the Toronto Maple Leafs
04/14/2014 at 12:02

nope, i had a couple emails about it. On a related note, did you know that you can double your penis size in a week using this weird old trick?

KusabiSensei - Captain of the Toronto Maple Leafs > Merkin Muffley
04/14/2014 at 13:50

Depends on how many AdWords you trigger in the meantime.