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Tax Refund

February 26th, 2007 at 03:12 am

I did our taxes last week and despite our changing our number of exemptions last year, we are getting a huge amount back from the government. It is mainly because of the 2 college kids.

So now we are trying to decide what to do with the money. I know that most here would automatically say to pay off the Discover card. I would love to do that, but we also have a house that needs some major renovations. We've been doing a bit here and there a little at a time but it's not making much of a difference. We still have no heat in the kitchen and several days this winter have gone out to find the cat's water frozen! Garage and porch need a new roof, one bedroom is still bare bones (sheetrock, plywood floor, no ceiling, etc.)

One thing we are going to do is finish paying off DH's truck loan. Some of the money we want to put aside for the college kids so that we can help them out when they have a need and no resources to meet the need.

Endless possibilities, but what is wisest?

4 Responses to “Tax Refund”

  1. Ima saver Says:

    I would say heat for the kitchen!

  2. jIM_Ohio Says:

    Pay off debt.. Once you are "cash flow positive", those other things can get done quickly.

  3. LuckyRobin Says:

    Can you get a little space heater for the kitchen as a stop gap measure while you pay off your debt, then do the major work after?

  4. rduell Says:

    We have one of those torpedo heaters in there now that we plug in when we have to be in the kitchen.

    It really won't take much to get the heat in there. Probably another couple of hundred dollars. We have the coal stove already, just need to ready the room for it.

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