Best Ways to Use Your Tax Refund
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Best Ways to Use Your Tax Refund

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First off, I use the term best very loosely.  If you know me, you know I’m the worst person to talk to about being frugal. Budgets and earning interest sound a bit boring to me, so if you’re one of those people who like to save their money, you may want to do the opposite of what this article suggests.  You worked hard for your tax refund money, so why not reward yourself?  Here are some of the best ways to use your tax return, according to my brain.

Summer Road Trip

Though the tax refund may not last much longer than a week in a road trip environment, odds are you’ll be working again this summer anyway.  Talk to your boss, and tell him you think a road trip would really help you find yourself and help increase productivity in the workplace.  You and I both know that’s a load of crap, but it just may be dumb enough to work.  Call up your friends and go exploring.  I suggest going into it without a plan or budget.  Don’t end up stranded on the other side of the country without any money left, but be spontaneous and strive to keep adventure as your number one priority.

Daaaaaaa Bars

This is by far the most irresponsible use of the money.  It is, however, a great way to blow off some steam and impress a bunch of people you probably don’t care about at all. You’re a college student; open a big tab and buy some rounds for a bunch of other people.  If you do it right, you’ll feel like a poor man’s Jordan Belfort.

Invest

I know you’re thinking this sounds like a rather boring and responsible thing to do with the money, but hear me out. Penny stocks are exciting and very risky. You can live the life of Bradley Cooper in Limitless, except you’ll probably end up losing all of your money because you don’t have NZT-48 (the limitless pill). There’s actually some crazy upside in penny stocks, but it takes a little bit of know-how and a lot of luck. If you like split second decisions and the pretend stock game you played in high school, this may prove an attractive option to you.  Some guy from Marquette turned $1,500 into $1 million in three years through penny stocks. If someone from Marquette can do it, I’m pretty confident a fellow Boilermaker can far surpass that achievement.

Update your Wardrobe

Whether it’s a sport coat from the Vineyard Vines Kentucky Derby collection or a few new items from the Ralph Lauren spring collection, new clothes always seem to brighten the mood and increase the self-confidence level.  It’s a good way to ensure you’re looking and feeling your best.  Plus, let’s be honest – you’re bound to experience at least one casualty to your existing wardrobe during Grand Prix week.

Buy Your Parents Something Nice

Mother’s day is on May 11th. Father’s day is just over a month after, taking place on June 15th.  First of all, you’re welcome for helping you get an early start on the gifting this year.  In all seriousness, you should put some thought into these gifts and take the time to show appreciation for all that they do for you.  I’m not saying that you have to spend all of your tax refund on them, but even the entire refund would be a fraction of what they most likely pay to help you get through college.  Go big on these gifts; by the time Mothers’ day rolls around, you’ll be back working and making money once again.

LIFETIME SUPPLY OF RAMEN

Just kidding about this one, but how awesome would that be?!

Whatever you end up spending your money on, just remember this: though money may not buy happiness, it can surely buy some nice things. 

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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