Tax Treats - 6 Fun Ways to Spend Your Tax Refund

You have used your tax return calculator, submitted your information, and then a little bit later the best thing happens – you get a tax refund! It’s like winning the lottery if the lottery gives you money back from yourself! Yay! 

Tax Treats - 6 Fun Ways to Spend Your Tax Refund
[image: unsplash by harry cunningham]

The question is, how are you going to spend it? If your investments are doing fine and it’s time to treat yourself to a mini spending spree, here are six fun ways to use your tax refund: 

Go Shopping

Perhaps it’s time to go on a date with yourself (and your credit card) in town, gliding from shop to shop, bagging some swag with your bank balance boost. Or, why not stay in your PJs and shop from the comfort of your own home? You’re flush, so you deserve some new garb! 

Pay for a Day Out with Your Mates

If you’re feeling generous and your mates haven’t had the tax rebate you had, maybe share the love. Take them out for a meal or treat everyone to a day out at the zoo. This way you get to have a nice time with the people you love who get some much-needed R&R too. 

Go Exploring

Around 58% of people plan to travel as much as they did before Covid-19 once it is over, and 25% of people plan to travel more. The places you can go and the way you can go to them are different now (and set to continue changing as we adjust to the pandemic). However, the fact is that there is always somewhere new to explore when you have a tax refund, even if it is in your own country. 

Give It to Charity

Giving to charity might not seem like a fun way for you to benefit from your tax refund, but it can be so personally rewarding. Science tells us that being generous provides the same level of pleasure we get when we enjoy delicious food. While it might seem crazy to give money to someone else as a way to enjoy that refund, your brain will see it as a reward, and you will feel great about it. 

Invest in Your Passion

Hobbies like sudoku can keep the brain young. The fact is that having something you enjoy ‘just because’ can bring a variety of additional benefits just by giving you a bit of time out. 

If you love doing something as a hobby but you can never afford new gear for it, maybe now is the time to indulge. Maybe you surf and it’s time for a new board, you cook and you’ve been after a nifty new cookware set, or maybe you paint and you can finally afford those premium brushes you have wanted forever. Treat yourself. 

Makeover Your Home

For a little investment, you could take your bathroom from bland and boring to spa luxury with a re-tile, new suite, and cute accessories like an essential oil diffuser. 

If you’re still working from home in the wake of the pandemic, you may wish to get your working space in shape with a new furniture set and some attractive artwork. You can DIY on a dime, and now you have a few dimes, you can use them on the parts of your home in which you spend the most time. 

Hopefully, you’re feeling inspired as to how to spend your tax refund. Whether you give the money to charity or spend it on a day out with yourself or your mates, the most important thing to do is enjoy yourself – tax refunds are, after all, one of life’s great joys!