2010 Tax Refund

Isn't it awful to be thinking already about how I'll spend my 2010 tax refund? I know that sounds desperate, but a lot of days, that's how I feel, and I really look forward to getting that chunk of money.

I have a fair idea of what I'll be getting back. It's been holding steady the last few years, and with the stimulus bonus, it may be even a bit more. I don't have federal tax taken out of my check because I get such a large refund, so I don't get the stimulus throughout the year that most people are getting. It's my understanding, though, that I will get it when I file my tax return. I also get a decent refund because I file Head of Household and have 2 kids. I truly dread the year that I can no longer claim my kids as dependents! That's another big reason I want to be debt-free ASAP.

Anyhow, before the transmission fiasco a while back, I had hoped that with this refund, I would be able to pay off the last of the credit cards. Now, I don't think that's going to happen. I'll be able to pay off one, but not both. I'll have to play around with the numbers later in the year to decide which one, but, by golly, one of them will be gone!

Actually the first thing I will do is tithe my refund. I usually hold this for the Easter offering at church, which we use to pay down the principle on our physical church building. It is always truly amazing how God takes what we give and just multiplies and increases it beyond our dreams. Then after the tithe, I will pay my real estate taxes for the year.

Then comes some big decisions: How much to put away in savings, which card to pay off, and do I go ahead and get tires and/or replace the hot water tank and/or refrigerator? These are all things I need to do in 2010 - replace the tires on my van, replace the hot water tank and replace the refrigerator (unless one or all force my hand before then). Logic says to get some money in the bank, but I so want these cards paid off and gone! I also don't want to be caught in the middle of a shower with ice cold water or to come home from a weekend away and find my refrigerator decided to die while we were gone. I know the frig is 16-1/2 years old (as are the rest of my appliances), and I have been told by someone I trust that my hot water tank is on borrowed time. The wear strips on the tires are already showing, and I can only hope and pray we have enough traction for this winter. I've priced water tanks at Lowes, and what I would want is about $500, not including installation (Energy Star with 9-year warranty, 40 gal.). I'm pretty sure I can get a basic refrigerator for $400-500, but I'm not sure what the tires will cost. I wouldn't mind used tires if I could get them at a decent price to get me through the next few years, but I'm not sure where to go for that.

Anyhow, I guess we need to see what the next few months bring and then pray for God's direction.