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Financial Website Directory Ireland

How Not To Use Your Tax Rebate

Author: David de Souza
Category: Finance & Law: Personal Finance
Date Added: April 07, 2011 08:52:32 AM
Page Views: 1167

There are so many people who get their tax rebates but do not really know how they should use this money. They tend to use this money in a haphazard manner because they do believe that this money is "free money." There is really no need for us to base so much of our discussion on whether or not this is actually "free money," but I think that it would be proper if we were to spend more time in discussing how we should not use this so-called "free money."

Don't Spend It Without Budgeting For It

The first thing that you should not do when you are spending your money is to spend it without budgeting for it. Despite the fact that it is pretty obvious that you should not peg your important purchases on the tax rebate that you are yet to receive, it makes a lot of sense to budget for it so that the moment it comes to you, you already have an idea of where you are going to place it. This ensures that you are not overwhelmed by the amount of money that you will receive form the government.

Do Not Spend It On Fun

Another thing that you should not do is to spend your tax rebate money on fun. Although there is nothing bad with enjoying yourself in one way or another, it does not really make much sense for you to take this hard-earned money on something that you cannot see in the long term. The reason why I am saying this is because if you had not budgeted for fun in your normal income, then it is safe to say that the fun that you are planning to go and have is not really worth it. It is not something that you value that much and even if you spend your tax rebate on it, you will only feel that you wasted the money and that you did not really use your finances in the right and proper way.

These two ways of not spending your tax rebate are definitely not exhaustive. But the truth of the matter is that they are the most common ways in which people like you and I spend their refund from the government then spend many days later regretting about the decision that we have made. Avoiding these two ways will go a long way in ensuring that we do not regret about the way that we spend our money.

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