Tax refund season offers many options
With tax refunds set to be dispersed, NEVN explores spending ideas for students
February 13, 2017
The tax money returned in February is a welcome sight for many people and what people choose to do with that money is interesting. Some may spend it wildly on any and everything, while others may be more frugal with their refund. Often times, the influx of money is saved or used to pay off debts, but those that have the option of spending it freely should consider carefully their options.
Tyler Arnone is an SCC student and a racing enthusiast. He plans to pay off debts this year, but he once used his refund to purchase a car.
“Usually pay off debts, then buy one nice thing or few things I’ve been waiting on getting for a while.” Arnone said. “This year I’m going to pay off my cars.”
Had he not needed to pay off previous balances, Arnone revealed this year’s return would be going toward race car parts, presumably upgrades to the previously mentioned cars.
Those fortunate enough to spend their returns freely might choose to schedule a vacation or revamp their wardrobe, amongst many other options.
SCC student Emma Joyner said her return will probably be put into savings for a rainy day, but had other ideas on where she would spend it if she wanted to.
“Well, in a perfect world where I have nothing to do with it, I’d honestly spend it on a shopping spree,” she said.
The financial awareness is encouraging to see from campus peers, as it seems daily responsibilities overpower the urge to spend money on hobbies or the newest fashion trend. Perhaps using the refund to settle bills now will pay off in the long run and allow for any future incoming money to be saved, although the urge is undeniable to immediately book a trip somewhere sunny and sandy.
A vacation to get away from the stresses of college life or a closet full of new threads would be ideal, but most students’ returns will probably end up stretching for as many ramen noodle packs and cases of cold ones as can reach.