Tax refund - no new iPhones

[Buck]

Just received a big check from Uncle Sam, large enough to buy new iPhones for the whole family.

However ......... I went straight to the bank and put a big dent into my 2nd mortgage balance.

Man! It feeeeeeels goooooood!

Still on the Dave Ramsey program, moving through the baby steps.
http://www.daveramsey.com/home/

[jdc]

But that means you gave them too much out of your check over the course of the last year, right?

[Buck]

I had a scare last year with a silly mistake in the return. I temporarily ratcheted my W4 all the down, but I'm changing it to reasonable again. However, I don't mind this at all. Mathematically it was a small mistake, but it is a big emotional boost today. I can see the end of baby step 2.

[jdc]

http://money.usnews.com/money/blogs/my-m...hink-again

[space-time]

I can see the end of baby step 2.

http://www.daveramsey.com/baby-steps/?snid=start.steps

[Buck]

Thanks jdc,

The W4 has been fixed. That large refund was a one time occurrence.
For the first time, I hired a tax accountant. I love it, and it was worth it, and I will keep doing that in future years.

[davester]

Good for you! Play the long game instead of the latest-shiny-objects game.

[Acer]

I don't worry about a moderate tax refund. You're only giving up a pittance in bank interest or even investment interest on the couple grand in the refund in exchange, considering it takes a year to accumulate that refund, having started in January of last year at zero. A high interest credit card loan starts to change this equation, but still not as rapidly as we might wish for the same reason. If a little forced savings is what you need to meet your larger goals, go for it.