Whether you consulted H&R Block, Turbo Tax or your usual accountant this spring, it’s safe to say all of us collegiattes should have filed our taxes and are waiting for those little (huge?!) presents from the IRS sometime soon. Though amounts remain mysteries, it’s always exciting to rip open the formal envelopes, scan for dollar signs and fantasize how you’ll spend this year’s tax return. Instead of counting your chickens before they’re hatched and dreaming up big plans to use it on a spending spree, use these suggestions to send your money down more constructive paths this spring. Spend wisely!
Mend the past: We collegiettes are all guilty of splurging once in a while, and how can we not when we’re constantly bogged down with tests, papers, internships and work? Occasionally we need material pick-me-ups to make ourselves feel better about the rut of everyday collegiette life. Those handy-dandy, plastic rectangles we call credit cards seem like great enablers—until our monthly statements prove otherwise and make us cry. Reality is that most of us are indebted to someone, something or someplace and could always use some extra cash. Now’s your chance. Use your tax return to chip away at debt you’ve accumulated this semester and begin to free yourself from the chains of unrelenting interest rates. Every little bit will bring you closer to zeros.
Enjoy the present: With April bringing sunny skies, cool breezes and longer days, now is the perfect time to get your Vitamin D fix and break your spring fever. Maybe you haven’t had the extra money to buy a new pair of running sneakers or have your tennis racket restrung, but your tax return can change that. It’ll give you the opportunity to buy or improve sporting goods without withdrawing from your savings account—all while de-stressing and getting your mind off school. Use the weather as an excuse to get your friends out of their dorms once or twice a week and join you in a run around campus or a pick-up tennis match. Cute workout attire is a must, so make sure you delegate money to that area of your tax return budget as well.
Invest in the future: It might be easier to take your tax return and splurge on TCNJ apparel at the bookstore, but planning ahead will be more rewarding. You’ve worked so hard this semester acing tests, keeping up with readings and researching your final project that you’re on the brink of burn-out mode. Don’t give up now. Give yourself something amazing to look forward to, like a weekend trip or your favorite artist’s concert with your best friends this summer. Talk to them about using their tax returns to book a hotel and explore an area you all haven’t visited before, or to pay a little extra and sing along with your favorite performer from a front row seat. Applying your tax return toward a future goal will motivate you to finish out the rest of this semester. There’s only about a month to go, and you can do it with some help from your tax return.