Moneymoneymoneymoooooneeeey!
Saturday, March 13th, 2010My tax refund arrived yesterday and man, I am so damned happy. When I bought my house I drained every penny from my checking and savings accounts, but I was okay with that because it was the end of the year and I knew it would soon be tax refund time, and I figured I could charge things I needed (that exceeded my usual financial picture) until my refund (that would include the $8k first time home buyer’s credit) arrived. By the middle of January I had most of my tax documents in hand, so as I moved in, I happily charged my washer and dryer, my fridge, getting my floors refinished, and a ton of other little things that I needed (and a few I probably didn’t). I wasn’t at all worried about paying because I was so close to paying my taxes and I always efile with direct deposit, and except for the one time I put down the wrong account number, my refund has never taken more than ten days to find its way to my credit union.
It was January 25th when I got the last piece of my tax-related documentation and I spent the rest of the week getting my shit together so that I could do my taxes that next weekend. However, it was that following weekend, when I attempted to submit my taxes in vain, that I learned that those of us claiming the first time homebuyer’s credit couldn’t file electronically and needed to mail in our forms. And the unlike the brief and hassle free ten day wait for those who efile with direct deposit, those who file by paper have to wait six freakin’ weeks for their refund.
Here we are, six weeks later to the day, and my refund finally, finally, FINALLY arrived. Finances have been extremely tight these past six weeks and yesterday and today have been a flurry of spending as I pay off my credit card and finally allow myself to buy all the things I’ve been yearning for for weeks, like a shower caddy for my shampoo that works with a clawfoot tub so that I no longer have to drench the entire bathroom when I grab it off the back of the toilet (and so that my soap no longer slips back behind the toilet, never to be seen again), and a hook for the back of my bedroom door so that I can hang my robe instead of laying it across my bed where my cat hairifies it every day, and an arm holder for my ipod and keys so that I can stop wearing my pocketed windbreaker when I run and can, as a result, stop sweating to death from too many layers.
The big question now, though, is what to spend the big money on. During the past few months I have come up with no shortage of things to spend my tax refund on, a list long enough, even at its most conservative, to drain my newly padded savings account many, many times over. And of course, while I love home decor and renovation projects, I love financial stability much more so I’m not doing to do that. But I do figure that once I clear off my initial wants and needs list (a doormat so that we stop tracking dirt into the living room, hair cuts for my boys, a new sports bra for me, more teaspoons so that we don’t have to constantly wash the two we are suddenly down to, etc.), I can afford to set aside up to $500 for some kind of project. Do I spend that money on a bed for my boys and all the stuff to finish their room? Do I tackle my own room and create myself a little sanctuary that includes redoing my teensy tiny closet with various closetmaid crap so that it’s actually useful? Do I tackle paint, curtains and miscellaneous small needs in the commonly accessed parts of the house (a less dramatic change but curtains would help with privacy and energy efficiency, and paint would brighten my spirits)?
It’s been very helpful to not have any money for the past few months. Instead of leaping into projects, I’ve gotten the chance to really think about what I want to change and what would make the biggest impact. Obvious choices have risen to the top…but there are still too many of them. Where to start, where to start…especially since I might not be able to afford any other major projects until next year’s tax refund.