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How Will You Be Spending Your Tax Refund?

spend your money buying a new truck

It's that time of year again ... many of us will be getting hundreds if not thousands of dollars back from the IRS and state governments. It's an exciting time since this can be seen as essentially "free money". It's up to you to decide how to use it ... be smart and cautious by putting it away for a rainy day ... or spend it on something fun!

Wouldn’t it be nice to have some money spare, is what we think the majority of the nation would be saying. We have to admit, having spare money in this day and age is rare. There had to be a series of events that takes place to make sure an adult has spare money, and it usually begins during those young adult years. The years where you’re either going to be the type of person to take out loan after loan, or you’ll be the type of person to have saved pretty much every penny. The lifestyle you will have led will have determined it. Then there are factors such as family. Those with a wealthy family are most likely going to have had far more help than those without, meaning more spare pennies to put away. Then it boils down to the job you have and how you’re spending your money now. So if you feel like you don’t have enough money spare to spend on some of the things we’re going to talk about today, but you really want some of the things that we’re going to talk about today, then start changing your spending habits. But we digress, so let’s dive into the article and show you how we think your spare money should be spent.


On Something Valuable


If you’re going to spend a lot of money all in one go, you might as well spend it on something valuable, and something you know you’re going to have for years to come. If you think about those items that you get passed down from generation to generation, what do you have to pass down that has come from your life? So, we think it would be great to have some sort of sentimental value in the things that you’re buying so that you can pass it down to the generations that you might create. Whilst you’re still around, it can be yours to use and cherish. Most men like to go for a watch or some sort of jewellery. A watch is really a statement piece of accessory for a man. It’s like a necklace and earrings to a woman. It makes us feel more like a man, and it’s something that can be worn every single day. It makes you look smart even when you’re being casual, and extra smart when you are being smart. You just need to make sure that you’re finding a watch that you’re really going to like, and it would be good to splash some money on it. Think of the top tier brands that you might once only have dreamed of going for, such as a Rolex. They really are a statement watch and one that was once considered to be for the rich and famous. However, with some savings behind you, it might not be as much of a problem. It’s definitely one to pass down as well!


On Some Thing That’s Going To Make You More Money


Why not spend money to make more money? This is usually everyone’s goal in life, but it just doesn’t usually happen. For example, you usually go to work to make money, only to go home to spend it all again. It’s a vicious cycle which means we’re spending quicker than we’re earning. So, to spend more on something that’s going to give you more back seems like the wiser option. The only way you’re going to be able to do that is to invest your money, which is a logical thing to do in the economic climate that we’re in. The world is only going to go in your favor if you’re making a lot of money, and investing is one of the best ways to do it. You just need to think about your options, one of them being Forex. We think Forex is the most popular option simply because it’s the one that has been glamourized the most. All of the meme pages on Instagram, for example, that everyone loves to follow are always promoting forex traders who have made millions. It’s important to remember the background and the upbringing they would have had. They might have an unlimited parent fund to keep tapping into when investments go wrong. We have to admit though, it is a lucrative way of money, and a fun way to do so as well. Once you understand it, you just have to develop your skills and understanding until you’re making a ton of money. A couple of thousand is a good investment marker to have. Just make sure that you have all of the money that you need to trade right, and all of the information. There are courses that you can take to make sure you have all of the knowledge you need to do it. You have to really understand how to trade to be able to do it right.


On Something Fun


Why not invest your money into something that you know you’re going to find fun. We always seem to be spending money on something serious in life, but we think that could all change if you were to spend your money on something like a UTV. Some of you might know a UTV as a side car, or as a buggy. Whatever you know them as, you’re going to have some incredible fun if you get one. They’re built for offroading, which means throwing it around a dirt track all day long. Because it does come under a lot of pressure, you might find yourself needing to buy utv tires, as well as many other parts. They’re easy to source, but you just need to account for them so that you’re not diving into an investment that you’re not going to be able to afford long term. Make sure that you have the right license to drive one as well, and find somewhere fun that you can go and do it. It’s always going to be better if you can go with a group of friends. There’s only so much fun you can have on your own!


One Something For The Future

The future might be something that you’re thinking about more so than ever before. For some reason, it just feels like the years are going quicker than they have ever done before, which only means that our future is going to be here before we know it. So, why not think about investing in a holiday home? Even if this is an idea that you can only dream about for another ten years, having a plan in place that decides how much you’re going to need, and where you’d think about buying one, is going to save you hassle down the line. A holiday home is great because it’s one that you’re going to be able to make money back off as well. Some would call it an investment, but that’s only if you rent it out to people whilst you’re not there. If this is going to be a holiday home you’d plan on going back and forth from, then renting it out might not be an appealing option for you. Make sure that you talk to financial advisors, and perhaps even take a few holiday’s in the country you’re planning to buy-in. We know it might seem too far ahead in the future to start planning, but the sooner you get the wheels in motion, the better! Plus, it’ll be great for family fun as well!

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