Quote:
Originally Posted by JE3146
Pros of your method.... I get a whopping 2$ interest over the course of the year in my savings accounts. Excuse me while I buy a cheeseburger.
Cons of your method. I have access to the money throughout the entire year.
And your method is assuming I have a steady paycheck, which I don't. I worked 6 months last year. Went to school the other 6 months. The 6 months I was working, I was saving for a wedding, to which we had to file jointly this tax return, which was another unknown of how things were going to pan out with our return. Needless to say, it was easier to claim 0.  |
Don't think I'm referring to you. In college I did the same thing, as I live paycheck to paycheck. I'm speaking of the guys (and/or gals and/or couples) who brag about the $5-$10K refund check.
$5k at simple intrest in a savings account is a bit more than a cheeseburger. Put into a money market is even more. A CD (that allows you to add throughout the year) even more. And, put it in a mutual fund is even more.
Peace of the Lord be with you.