I’m sure that many of you are already thinking about Tax time. Even more so if your getting a return instead of paying in. However, what plans do you have for that return? Have you been seeing all those new things you have been wanting whirling around in your head thinking well first I’m going to get this or that, then I’m going to purchase this and oh I have to have this!
Before you start thinking of what to use your tax return on put on the brakes for just a second. There are a great number of things that you can do with your tax return but if your trying to look and turn more to being frugal here are some of my suggestions for your tax return. Some may work for you and your family but some may not depending on your budget and each family lives differently.
If you have a debt on your credit cards then take some of the money to be paid on them so that it will lower your payments. Which in the long run will help out your monthly budget. Then call the credit card companies and see how you can get your interest rates lowered as well to help save on them as well because your interest rate can make paying them off difficult.
If you have a number of cards try to get rid of a few of them as well. I have to be honest here and say that the only credit card that I have is attached to my bank account. I do this because it’s to easy to have them and use them if they are available at least for me. So I have never had one other then for my bank account so I have no monthly credit card bills that come. My father told us since we were little, that cash and checks are the only way to make purchases that you need and I guess he drilled that home! 🙂
Pay off any Christmas debts that you have from the holiday’s. Then set aside a amount that will fit your budget that is just for Christmas 2012. So that you will not have to come up with the funds all at one time and will have the money when there are some great bargains. You won’t have to worry if purchasing it will hurt your budget as you have already set money aside for this so it won’t affect your monthly budget.
Now is also a great time to set money aside for your garden that you want to put in to help save on your Monthly Grocery budget. This will help to lower your monthly grocery budget for the winter months and hold you over till your garden is producing again. There are many different things that you can plant that will come up at different times of the growing season. If you have never put in a garden but are looking forward to putting one in this year the links below will help you. If you have limited space but want to place in a garden you can also see the links below. There is always a way to put in a garden so that you can have fresh produce. I actually use several of these different ways when I put in our garden. You can use more then one of these ways to have a great garden and save space at the same time.
I suggest opening an account for this and sticking in an amount of money that you want to use to purchase a pig and a whole cow or half a cow. Now you can do the traditional purchasing it from an establishment. Which is not a bad choice by any means. You can get some good deals from them.
However, I’m going to be talking about a different way to get a good deal on buying a cow, pig, lamb or other meats. It may be a way that you have not thought of before and maybe you have. There is nothing like a good County fair and visiting all the animals, rides and all the other of great events featured. After the fair is over call your local 4-H club and ask if they have any animals that need to be purchased still as they all must be sold. You can usually get a great deal on these as they didn’t do well at the fair as far as show. The children need to sell their animals so that they can get a new animal for the next year.
So your helping out a child to be able to purchase another animal for next year as well as cutting costs on your monthly budget. After you make your purchase or purchases. You will get a call from the processor asking how you want the meat done and packaged. So at that time you can choose what cuts you would like, how many pounds per package and so on. You can even get your bacon and smoked sausages done. This can save your budget a lot of money. Not to mention make a lot of great tasty meals for your family to enjoy.
Back to school Shopping
Put some money aside for back to school shopping so that when they are going to be switching over the clothes for the summer months you can get some great back to school deals! We all know how much kids grow during the school year and summer months so take that into account when your going to purchase. This can save you a large amount of money when back to school shopping hits! You will be almost ready for the new school year already. This will help to take some strain off your budget when the time comes and your child will be all ready for the new year of school.
Your gift Closet
Set aside a small amount for your gift closet. By small I mean $40 or so. Not a large amount at all to be prepared for all those “By the way mom, so and so’s birthday is today I can go right?!?!” This way there is no scrambling to the store to pay full price for the gift. You just go to your gift closet and let them pick out a gift for the birthday person and your ready to go!
Now I will tell you that you will use one of the gifts that I usually post with coupons that are almost free for your gift closet gifts. Good example: The Baby Alive Simple Care For Me doll that I just posted for the $4.77 clearance with the $5 off coupon deal. These are the items that you use to stock your gift closet with which is why it’s a small amount to stock the closet so you have items for all different ages so if someone forgets about a birthday your all set and not running around trying to find the perfect gift with only a half hour before the party! YIKES! Been there, done, that and gave it up! I have to say it was NOT my idea of a good time. It made for a crabby day!
These are just some of the ways that you can help your budget with your tax return. So that you can continue or move towards your being more frugal. Your monthly budget is not going to be affected if you use your refund for them. It can help to improve your monthly budget by using this money for these things so that your not coming up short later by trying to get these items with your monthly budget. I look at tax returns a little different then most, I think of it as a savings account. I think of it as saving for my purchases to help my monthly budget. Paying taxes is not fun but I try to put a positive spin on it. 🙂
Now, I know that not all of these might be able to be done. I wanted to put them out for you to decide which would work for your family so that you can give it some thought before the time comes.