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6 Ways to Waste your Tax Rebate

Submitted by CardMaster on June 3, 2008 – 7:28 pm4 Comments

For most of us, the tax rebate was a pleasant surprise that we didn’t quite believe we would get until it showed up in our bank account or mailbox. What do you do with a little extra money that you didn’t know you were going to get? Duh – put it towards paying off high interest debts or stick it in a savings account. Of course, most people will use it for what it was intended for – buying junk or trinkets that bring short-term, transient happiness and *appear* to put the economy back on track. So for those who aren’t going to be sensible with their rebate, here are 6 of the best ways to waste it…

  • 1. Have the kind of night out you’ve always dreamed of. Rent a limo, buy drinks for everyone in the bar, tip the DJ generously to get your favorite song played, or do whatever you would do if you were a high roller out on the town. Live the good life for one night – and then prepare yourself for one heck of a hangover!
  • 2. Go to the mall and spend, spend, spend. This can be especially appealing if you’re usually pretty careful with how you spend your money. After all, people on a strict budget don’t generally wander around the mall spending with reckless abandon. You’re supposed to be stimulating the economy, right?
  • 3. ‘Woo’ him or her with material gifts. Why write a poem or go for a walk at sunset when you can just buy someone’s affection instead? Jewelry, Candlelit dinners at a fancy restaurant or enough red roses to fill a room. Your tax rebate might be just enough to purchase love for a single night! On the other hand, all your future candlelit dinners will probably be at McDonalds – and there’s nothing particularly romantic about a Big Mac – take my word for it.
  • 4. Buy something you’ve always wanted, but couldn’t justify. Maybe you have always wanted to buy a mint-condition toy that your parents never bought you as a child, or maybe you want to buy a dog that comes with fancy documentation and a snooty name. You may never have been able to justify this purchase to yourself before, and guess what? You won’t now! But if you’re looking to waste your tax rebate check then why not?
  • 5. Start a scholarship fund in your name. If you want to get your ego stroked while wasting your rebate, why not offer out a one-time scholarship in your name. Make it for whatever you want: veterans returning to college, photography majors, people who can prove a bloodline that includes Winston Churchill, or anything else that strikes your fancy. You could even institute an essay contest to see who gets the money. Heck, if you’re going to throw your money away, you might as well do it with style, right?
  • 6. Pamper yourself. Book a day at a spa and get the full treatment: mani/pedi, massage, mud wrap, various cleansing procedures, and whatever else your tax rebate check will buy. Even though this will only give you a couple hours worth of relaxation, it can be a great experience that you’ll probably enjoy quite a bit. Either that, or you’ll find the experience kind of boring and be out a few hundred dollars for your trouble.

You’re not really wasting your tax rebate if you have some short-term fun with it, right? Just because you could be spending the money on sensible things, it doesn’t mean you should feel bad about indulging yourself now. Why think about tomorrow when you can live the high life today?

Related posts:

  1. Rebate or Bonus – What’s in a Word?
  2. Dear CitiBank: What the heck is an “interest rate rebate?”
  3. Gas Rebate Cards: Better than walking to work!
  4. What Happened To Rebate Checks?
  5. 13 Ways to Slash your Gasoline Bill

4 Comments »

  • Jamillah says:

    I’ve been good.I put mine right in the ING saving account that I have ( along with my refunds) to gain some interest. Even though I have CC debt ($3500) I just decided to paid that down with normal money. I should be done by next year. I am pretty good at discouraging myself buying big ticket items ( my heart is set on getting a Blackberry, Nintendo DS,I-pod Touch, and an Ebook) but I hope for a slash cut somewhere for me to justified buy it.

    What did you do with your rebate check??

  • P L says:

    Savings account. Unfortunately, part of it promptly had to be withdrawn for car repairs.

    I confess – I blew it on a set of rotors, brake pads, a harmonizer thingie to make the oil stop leaking and a tune up to improve gas mileage…

    :( I’m so ashamed…

  • Jonathan says:

    PL: Don’t be too tough on yourself – having a working car is important. If you had spent in on a new stereo and some rims, then it might be ok to beat yourself up about it :)

  • SavingDiva says:

    I put mine into my emergency fund….I wish I would have spent it on a spa weekend :)

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