Tuesday 8 December 2020

3 Kid-Friendly Ways to Spend Your Upcoming Tax Return

The holiday season isn't the only season coming up fast. With tax season right around the corner, chances are you may already be thinking of fun ways you can spend your tax refund. Income taxes account for nearly 50% of federal revenue and the average taxpayer receives a refund of roughly $3,000. If you don't need the money for essentials, using your refund as a way to have some family fun could be a great way to help reduce the stress from this year.

Here, we've put together a few kid-friendly ways you can creatively use your tax refund in 2021 so you can have a blast as an entire family.

Adopt a dog

It's no secret that dogs are a great addition to the family. In fact, there are over 75 million pet dogs in the United States. That's more than in any other country! But families don't always have the finances to pay for adoption fees, spaying and neutering, and vaccines. If you and your family have been waiting for the right time to get a dog, now is the best time to do it. You can use your tax return to help pay for the adoption fees, pet accessories and dishes, and more.

Take a local road trip

Once traveling isn't dangerous anymore in 2021, consider taking a family road trip. A road trip to a nearby destination can be a great way to travel and experience new things without going overboard on plane tickets and hotel costs. Do some research on what nearby cities have to offer in terms of sights and sounds. Check out fun food places and local shows and museums. You don't need to travel far to find a good time!

Give your home a place to splash

Social distancing and staying inside has taught us a lot about how we can improve our homes to make them more comfortable and fun to be in. If you're looking for a way to boost the fun in your own house while also boosting your home's value, consider using your tax refund to install a pool. A swimming pool can boost your home's value by up to 7% and you don't even need to get beach-ready to go swimming with the kids. If an in-ground pool is outside your budget, above-ground pools can be just as fun and are easier to put away for winter.

It's always great when you find out the government owes you money instead of the other way around, and your tax refund can be a great way to indulge in a little fun with the family. Consider how your entire family can benefit from your tax refund whether it's indulging in a big purchase or making a smart investment.

No comments:

Post a Comment