The lost art of saving money or Why do you have to buy so damn much??

[CrazedClerkthe2nd]

It's tax return time again, which means I get customers with wads of bills at the games store all the time.

I've lost count of the number of times in the past couple weeks that customers like these will come in and pick up a brand new PS3 with two extra controllers a bunch of games and who knows what else. Usually these transactions total well north of $600. Now well that IS good for a company I must shake my head on this a little bit.

I admit, I got a decent refund last year and bought an Xbox...a used Xbox 360 for about $150, I then got a few games to go with it and that's it. Total cost: Under $250.

I used the rest of my refund to pay down credit cards, pick up a few things for the house, and bulk up my savings account.

My manager got a tax return of around $5000 last month and has now spent all of it. In fact she had all of it spent a week and half ago.

I really think they need to start offering money management classes in high school because a very small percentage of people understands how to do it properly.

[RecoveringKinkoid]

Yeah, we're weirdos that use tax return money to do dumb stuff like pay off car loans and credit cards so that we eventually end up with more expendable cash every month. But we're crazy like that.

People always seem to like to burn through all their money and then complain they're broke. You'd think they'd figure it out.

[barainga]

What... actually teach people proper money management? Are you insane! If that happened the entire system will collapse! It would be anarchy if people didnt irresponsibly spend every penny they might potentially earn, thats why we have credit so that they can spend that penny before theyve even earned it!


In all seriousness. I agree with you.

[Raveni]

I used to have serious staffing problems around this time of year. Some people never could figure out how much to have taken out, and would get a huge refund. Then have no reason (or be so hight that they forget) to show up to work until they ran out of money.


Customer: "Where did Sally go?"
Clerk: "Sally got her tax return, and didn't come to work for two weeks. Raveni fired her."
Customer: " I got fired for the same reason after I got my tax return! Can I have an application?"

[KiaKat]

Fiance just got a huge payout from one of his clients. We've been waiting on this cash for a long time, and now that it's here, we're paying the tax bill, the car, credit cards, and loading up our pantry/fridge with items that we've wanted but haven't been able to fit into the last few shopping trips (the high-quality flavourings, Adagio teas, some gourmet pastas, and a bunch of spices that I've been ogling). We still have a good chunk left, which will be split between next month's rent and the savings account. We might be moving in about a month, so the savings account is important, as is making sure we have foods that will travel well.

The only treat we're buying is a new cat tree. The girls have been waiting patiently for new toys, and now we can afford them.

[Elspeth]

We usually have some that we blow and fun stuff but most of the money goes between our savings accounts or one of the cars. If we had gotten as much has we had hoped I was getting my Rebel T1i, but it was not to be. Which might be a good thing, with the new one coming out, I might be able to find mine used cheaper. (where does one find good cheap cameras?)

This year I put the 3DS on reserve, of course I traded mine in to get even more off.

I never understood why people blow their returns. I like having a little cushion.

and I agree with the money management courses. it would have done me A LOT of good. I am terrible with money, I am just now getting the hang of it.

[Bright_Star]

I used my tax refund to get ahead with bills. I could have bought the Playstation 3 that I want but then I wouldn't be caught up with bills. & I put some of the money into savings. Have to be smart about it.
PS3 can wait...or at least until it comes down in price to about $199...lol.

[blas]

I think I may "treat" myself with getting my hair colored and maybe getting a new outfit or shoes.

[flyingember]

I really think they need to start offering money management classes in high school because a very small percentage of people understands how to do it properly.

they do in Missouri.

[Merriweather]

It's tax return time again, which means
My manager got a tax return of around $5000 last month and has now spent all of it. In fact she had all of it spent a week and half ago.

I really think they need to start offering money management classes in high school because a very small percentage of people understands how to do it properly.

Yep, I've seen people blow an icome tax refund cause it's "extra" money, even when they were being threatened with having electricity shut off for non-payment. And of course, they use tax preparers that give them their refund immediately, rather than waiting for the IRS (for a fee, of course). My sister always did that. Of course, she also would take a newly received paper check refund or other windfall to a check cashing place on a Saturday evening and pay as much as 20% to cash it, rather than wait and deposit it in her credit union on Monday

[AccountingDrone]

We do frivilous stuff like pay down the principal on the mortgage ... silly us

[Kogarashi]

It's a good thing Hubby and I only have one big bill right now (my student loans from college, which are almost paid off, yay!), since we owed this year. That's what we get for him being a grad student. The university doesn't take the taxes out of his stipend, so we frequently find ourselves owing some money come tax time if we underestimated our taxes for the year.

Of course, when I got console-shopping, it has to be with my own money rather than our joint money, which is the whole reason I sell art and stuff. Yay self-funded hobbies!

[kzc]

It's a good thing Hubby and I only have one big bill right now (my student loans from college, which are almost paid off, yay!), since we owed this year.

Owing, of course, is the best situation to be in (assuming you have any tax liability at all). Why give the government an interest-free loan for a year? I always try to owe as much as possible without triggering penalties or quarterly filing requirements.

[42_42_42]

Dude, if they're getting THAT much back, it means they need to adjust their witholdings. Do they not realize that they're letting the government borrow all that money interest free?

[Jetfire]

5000$ refund? Wow, yeah that should be readjusted if they were smart at all. (right, forgot where I was...). That's almost a hundred dollars a week they could have available through the year.

My returns are usually smallish, about 200-400$ at most. (this year looks to be 200$ish), and I admit I'll probably use it to splurge on something, like a 3DS (My original DS is starting to show its age). But that's because I'm comfortable with my spending as is, I'm not building up more debt and I"m chewing down my existing debt at a rate I'm more than comfortable with.