As I approach my mid twenties I’m finally starting to feel like an adult. It really hit me when I was super excited about getting a new vacuum cleaner for Christmas. Then, when I started planning what to do with my tax return money, it hit me again when part of it was going towards vacation with my boyfriend, and the other part was going towards paying loans. My mother always taught me to be responsible with money, so when I get extra money like this I spend some of it on myself and the rest goes towards necessities or into my savings account.
I understand that not all people are responsible with money. When it is just you, or you and your partner, it is OK to be selfish with money and do stuff for yourself. But what really bothers me is when someone has a family and they are selfish with money. I mean, If you already have money, go crazy. If spending it won’t hurt you; go for it. But when you already are low on money, and you have a family to support, and you’re already having trouble finding enough money to buy formula and diapers, you shouldn’t be thinking solely about yourself when you get a ton of money from a tax refund.
I’m not saying that you shouldn’t spend some of it on yourself. Just because you have a child doesn’t mean that you have to neglect yourself. And I don’t have children yet, but I have some ideas for what I would do with my tax return money if I did (especially if it was worth thousands of dollars):
- I would put some of the money away in a savings account. I know how grateful I was that my mom had managed to save some money for me over the years even when we didn’t have much.
- I would use some of the money to get a larger apartment so that my child could have their own room. It is ridiculous how much money they ask for up front when you get an apartment. There are a lot of apartments I had to turn down because I didn’t have thousands of dollars to give them up front. So if I had the money, and could afford the monthly rent, I would use some of that money towards the down payment.
- I would buy diapers, formula, anything that I know I’m going to need.
- I would pay off bills that needed to be paid. In my case, it would go towards student loans. I was always excited to get financial aid when I was in school. Now that I’m realizing how much it added up to, I’m not very happy trying to pay it back.
- And lastly, I would spend some of the money on myself. I would spend some on a date night or just buying something I really wanted. I would make sure that I didn’t forget about myself.
Even though I would spend some on myself, I would make sure that some of the other stuff got taken care of first. I’m the type of person that likes to put family first. I will take care of myself, but I will also make sure I take care of my family. Some things just matter more than yourself.