Tax Time!

By now, you're probably getting amped up to do your 2011 taxes, and either get that refund or pay to the government. Most companies are supposed to have 1099 forms sent out by January 31st. I enjoy doing taxes, particularly when I see a savings.

Some people enjoy seeing a refund at the end of the year, so they stick with the number of exemptions which allows them to typically receive a refund. Others prefer not to give the government an interest-free loan, and adjust exemptions accordingly. I am one who likes to see the refund each year, so I can decide what to do with it accordingly. We always have a pre-planned idea on what we're going to do with the money when it comes in. We always talk about it and agree before making a final decision. Then when the money comes in, we're already a step ahead of the game. Therefore, there are no "impulse" purchases either.

I hope you'll also decide to do the same, and know what you're going to do with the money ahead of time. I strongly encourage you to use it to pay down credit card debt, invest it, or save it. It may be hard to do at first, but you'll be glad you did it when you reap the rewards of no debt, bigger investments, etc.