Guess what time it is, y’all: Tax refund time!
(Well, for those who are getting a refund. Sorry, this gif may not be very nice to those who have to pay….)
Each year we try to fill out our W2s in a matter that will always give us back a little bit each year. Other personal finance gurus feel differently, but that’s how I roll. This year we are getting $481 back. Not too bad, but not nearly as great as last year.*
The $481 Question:
What to do with this extra money?
Lots of things.
We could spend it on something lovely for our home or a gadget or a weekend getaway. But there’s nothing we really need right now and J has limited vacation days this year. The next natural place would be to save it. Right now we are saving for a house deposit, and every pretty penny counts. But we do that every month and it seems kind boring to lump in that amount with our other savings. It would bring us closer to our goal, but we kind of want this to go towards something fun, even if we don’t use it today. Then I remembered our Big Trip! We have $2,000 saved already, thanks to my dear grandmother, and it’s been rather neglected as we don’t plan to go anytime soon. Perfect! That’s where this money will go. :)
Once we put our money in the savings account, we found out one of our friends is going to Africa to do relief work in Sudan. He’s a good friend, and when we heard about his trip and the work he will be doing there, we were so excited and wanted to be a part of it. So we decided instead to give all our tax refund to his trip. This decision meant we wouldn’t be able to use the money to pay off our debt with lowell, but we felt it was the right choice for us to support our friend in his mission.
I debated sharing this on here. No one likes a humble brag, and it kind of sounds like I’m saying, Look at me! I’m giving away my tax refund! But I share this to show how much God has changed my heart in the last few years, and to encourage you to give, if you have never done it before.
My natural tendencies are to hoard money. To save, save, save as much as I can so that I can never be in want ever again. But God tells us to trust that He will provide for us. And he asks us to be generous. The more I give, the more I can see a change in my heart. It’s also so exciting to be a part of his work! I may not be traveling to Sudan physically, but I’m still very much a part of that project and I can’t wait to see how God uses my friend and our resources to further his kingdom.
Are you getting back a tax refund this year? What are you planning to do with your refund?
If you’re considering paying tax on cryptocurrency, it’s best to speak with a financial advisor first.
*In case you’re curious, here’s a recap of how I’ve spent my refund for the past few years: