Tax Day: Will You Spend the Refund on Your Truck?
To Save or to Spend, That is the Question
In case no one has greeted you this way today, let me be the first: Happy Tax Day! If this is new info to you, well…you’ve got your work cut out for today. Tax Day normally falls on April 15, but since that date landed on a Sunday and Monday was Emancipation Day (a local holiday celebrated in Washington, D.C.), tax payers gained a couple extra days to do the yearly chore. For those who prepared and filed in a timely fashion, which is all of us, of course, it’s likely you’ve received your refund or will receive it soon, if indeed filing resulted in money in rather than money out. Interestingly, the internet says the average tax refund approaches $3,000. That’s a good chunk of money!
Here’s the real question: what will you do with your tax refund? The obvious answer is that you can save it (investments, put it in a savings account, or start an emergency fund) or spend it (pay off credit card and other debt; help a loved one or local charity; invest in education, business, or self-advancement; go on vacation; buy things; party hard; gamble; upgrade your home; impress a significant other; and so on).
Here’s a thought: you could spend your tax refund on your truck. After all, it’s kind of like free money, isn’t it? (We’re not financial experts, so that may not be true.) We know many of you already had this idea, and we agree that your truck is a noble cause in which to donate the windfall that is a tax refund.
Here are some ideas to get you started.
Some basic maintenance would serve your truck well and may even contribute to improved fuel economy: brakes, tires, oil, spark plugs, wear items, and fluids.
A really good professional detailing job could make your truck shine like never before, protect its paint, and ensure adequate resale value.
Maybe some bodywork, from mild parking lot dent removal to wild shaved door handles, would help set your truck on top.
Maybe some paperwork would suit you best: paying back fees and registration fees, getting your truck smogged, and doing whatever else your state requires to legally have a vehicle on the road.
Maybe some mild, practical accessories would be beneficial: retractable power steps, new seat covers, an upgraded stereo head unit, headlights, taillights, front and rear bumpers, an intake system, an exhaust system, or a bed cover, for example.
Maybe some wild modifications in the wheel/tire, custom suspension, or engine performance categories are in store for your truck. In this case, your refund may contribute to the funds you were already saving for these projects.
How will you spend your tax refund this year?