5 Smart Ways to Spend Your Tax Refund

 Not sure how to spend your tax refund? Here are five smart ways to spend your tax refund that you won’t regret!

Smart Ways to Spend Your Tax Refund

Best Uses for Tax Refund

It’s that time of year where people either try and quickly get their taxes done in hopes of getting a hefty tax refund…or they drag their feet because they don’t know what the IRS is going to ask of them!

I’ll admit, being self-employed has pushed me into the second category – but I have had many years of trying to get my tax return as quickly as possible to get that refund!

It can be such a lifesaver!

I’m also the daughter of a tax preparer, so I have a bit of a unique perspective on how stressful this time of year can be – so sometimes, when you have that refund coming, it can make things feel slightly less stressful.

I don’t know about you, but whenever we would get a refund, it usually went back into the bank. While this is a smart thing to do – I do think that it’s important to put the “fun” back in refund and use a little bit on yourself!

Today, I’m excited to be partnering with Straight Talk Wireless to share the best uses for tax refunds..while still having a little bit of fun in the process!

How to use tax refund wisely

I’ve come up with five different categories to consider when trying to decide how to divvy up your tax refund – along with a couple of suggestions for each category!


This is probably the least “fun” category, but it certainly can have the biggest pay offs. Most of you know that I’m a big advocate for getting and staying out of debt – and when you can, saving as much as you can.

So if you get a nice tax refund, I think it is wise to look at any outstanding debts you may have and pay those down. If you don’t have any debts, consider figuring out the best way to invest your money so it can grow over time. For us, this was as simple as switching where our savings was – we went from a .2% interest rate to a 1% interest rate, which makes a big difference!

Looking into different investment options can be super helpful! There are even things you can do straight from your phone.

Something else you could do would be invest in energy saving appliances or electronics – such as a smart thermostat. This can help you save a lot of money in the long run, and it can make your home a lot more comfortable.


When I think of the word “practical”, I think of something that makes sense for your current situation – or even looking at your current situation and seeing how it could be improved.

For instance, perhaps you know that your phone is on its last legs. It may still work, but it’s certain to die within the next few months. When you have a little bit extra money in the bank from your tax refund, you can take that to buy a phone that you will most certainly be needing in a few months.

And when you are getting a new phone, it’s a great time to make sure your cell phone plan is the best for your situation. Because let’s be real – there are some pretty expensive cell phone plans out there (and between you and me, I don’t think the more expensive ones are better!).

One great option to turn to is Straight Talk Wireless. Not only do they have a variety of phones to choose from with great deals on the latest and greatest smartphones, such as the Samsung Galaxy S8 – but their unlimited service plans are also rock solid.

For just $55, you can get Straight Talk’s Ultimate Unlimited* Plan with unlimited* talk, text, AND data for just $55 per month. I remember when I got my first phone, it was $50 for text and talk…and it was only in certain areas of the country. Once I went to Utah, and I had to pay $50 for roaming! Times sure have changed, and if you are still paying top dollar for your cell phone plan, now is a good time to consider switching to a new service provider. Straight Talk Wireless offers nationwide coverage  on the best networks, so you never have to worry about losing signal anywhere or in the middle of a call.

Also, if you are planning to get your teenager a cell phone at some point this year – you might as well do it now. One of my friends says she loved using Straight Talk for her teenage son, and I do think it’s a great idea!

I’ve been playing with the Samsung Galaxy S8 – and I’ll admit, I wasn’t sure how I was going to feel about it (I’ve been team Apple for awhile now). However, I’ve been VERY impressed – it’s so easy to use, fast, and the camera is impeccable.I took some great videos and photos of my kiddos sledding the other day, and I liked how easily I could switch back and forth between photo and video mode. I also really love the facial recognition unlock feature. SO cool.


Think about things in your life that are necessities – and put your tax refund toward that. Maybe it’s buying pre-loaded grocery gift cards or gas cards. Maybe it’s a repair on the car. Whatever your life situation is – there’s almost always something that we need. Put some money toward that!

For us, it would be clothes. I don’t know if you have children like we do, but they are constantly growing! I think some of the best use of a tax refund for us would be buying clothes – not just for our children’s current size, and the season we are in – but for the future as well. It seems like they always need something new at the most inconvenient time…so it’s nice to be able to head down to the basement and pull out a box of clothes ready to go!


I definitely think there’s room in life to just buy something because you want it. Not every purchase has to have a carefully calculated reason behind it.

Life always is more enjoyable when you have some fun. You could buy something that you want to have some fun with.

  • New television or entertainment system
  • New bike or fitness equipment
  • Gym membership
  • Video game system
  • Membership to a zoo or museum


In the Clark household, we are all about “experiences”. I think the best thing I can spend money on is on things that will create memories our children will remember forever. Toys and games come and go…but memories truly last a life time.

I know quite a few people that use their tax refund each year to help fund a vacation or even to something around their town that they normally wouldn’t be able to. For instance, we are hoping to go on a little staycation with our boys in the near future and stay at a family friendly hotel, hit up some of the kid-friendly museums, and just try out some things we don’t normally do.

It can be as simple as getting some new sledding gear and taking up the hills.

Just find some fun experiences and do them! You may want to even do something that you have never done before – like sky dive!

*At 60GB, Straight Talk reserves the right to review accounts for usage in violation of its Terms and Conditions. Please refer to the latest Terms and Conditions of Service at StraightTalk.com. A month equals 30 days.


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