It's Your Money!

Just a quick thought for today concerning your income tax return. Many of you are already receiving your annual refund check from the government for the amount they overcharged you last year. About this time every year you see the ads pop up everywhere. Spend your tax return here! Now you can afford this!

In many people's minds their tax returns are a once a year free spending voucher. It's money they don't usually have so why not splurge? I heard a lady the other day talking about what she was going to buy when she "got her income tax." It was well over a thousand dollars she was getting back. And she already has it spent.

I have a news flash for those of you who have big plans to run out and spend your "income tax." ... It's your money! This is not some gift from the government and it's not patriotic to just go out and blow it (obviously the stimulus theory did not work). You are getting a refund from the Treasury Department because they took too much from you all year long! Chances are you bought some things last year you couldn't quite pay for. You are making payments on a credit card (with interest) and not putting anything else on it. That's good. But why not use your refund to eliminate that bill altogether? Instead of making monthly payments to the credit card company make monthly contributions to your savings. Next year if you want to spoil yourself, go ahead. Just don't do it on borrowed money...

Next week I'm taking you back to school with the Three "R"s. Enjoy your weekend!