I Was Wrong
You don't hear me say it often, just ask my husband, but I was wrong. In this post, I stated that even though I knew we should use our tax money to pay off debt, I didn't think I would enjoy it as much as purchasing a few practical things that we were considering.
The money so far has been used to top off our savings account, for the vacation we are taking next week, for the dentist (that one was not expected!), to buy some parts for the car we will soon be selling, and to pay a big chunk on a credit card! I was surprised at how satisfying it was to schedule that large payment to the credit card. It was a leap toward our goal, instead of the baby steps we've been taking.
The car is almost ready to sell. I am looking forward to using most of that toward debt. Yes, I was wrong, and I am sure my husband will not let me forget it!
Technorati Tags: 
debt-reduction, 
tax return
Labels:
paying on debt
11 comments:
I understand. We got a nice return this year and every dime went straight to debt. I debated a new front load washer (water in our new area costs 3x the state average) but went with paying towards debt.
Umm.. Congrats on being wrong??!??
Sometimes it's ok to be wrong, good even!
This was a good thing to be wrong about. Congratulations - I know how wonderful that feels!
Glad you were wrong!!!
Our return was supposed to go to build up our emergency fund & pay off some debt, but then...the flood...so we have a small emergency fund & drywall!!! I did manage to convice the dh to let me buy a new fan for our kitchen though, so I got $150 of it in "Mad" $. We reused the old fan upstairs in the apartment, so I got a new fan instead of an ugly apartment light fixture... I think it was win-win!!!
Grrr to the unexpected expenses though... do they just sense that you have the $ or something...I mean really our refund hit our account the day after the incident... teeth, car repairs, bad tenants, it's a conspiracy man!!!
As someone who's been trying to pay down a big debt (long story) to the point where the stress has made me sick, I have to agree with your husband. The more a burden is lifted from your shoulders, the better you will feel! I'm paying off one whole credit card with our return, and then taking the money I'd usually send to that card to add to another card. Someday, I'll be debt free and you'll hear a whoop of joy halfway across the country.
Let me hear it again..... please?
Ah, well, I was the opposite - I was really, really looking forward to paying off a chunk of debt on our minivan, which seats officially 7 for our family of almost 9. We were going to pay it (almost) all the way off (with only 6 months payments left) and then buy a bigger van (friend has a 10 passenger one for $500!).
FOUR DAYS after our tax refund came in, husband dear hurt himself - badly - due to bronchitis complications.
No working until the middle of April. So, now we are using our tax refund to do mundane things like pay the rent. And it is satisfying too.
Mama Says
GOOD FOR YOU! Wahoo! And think of the interest you've saved by making that bigger payment!
Aunt Nancy
Oooooh... Tim knows, and he has it in writing!
We usually divide our tax returns into three equal parts:
1) Savings
2) Debt Reduction
3) Fun
Post a Comment