Photic
02-03-2006, 06:15 PM
Ok, I'm expecting a nice chunk of money back from taxes.
I have a few things in mind and I pretty sure I know what I'm going to do with it.
Here are my responsible options.
a) Start a business, I need to do some more research but this chunk of money should help with getting it started. I figure most of the money will probably go towards lawyers (type of business where they are important) and or equipment, I'll probably have to fund the rest myself slowly but surely. I imagine that a lot of money that I would be putting into it could be written off for next year.
b) Refinance the car. Lower my monthly payments, then I'll have more take home money, the difference in take home pay could go directly towards my funds for starting the business. I'm not hurting with what I'm making now, so I figure the extra money could go directly into savings.
c) Invest it, take that money and invest it, either with an IRA or something else, I haven't fully decided, I'll have to look into it more.
d) School, put this money towards education, I have no idea if I can then write this money off next year, anyone know?
Here are my irresponsible options.
e) Home theater equipment, specifically a a/v receiver that runs a pretty penny and some other upgrades. Something I've been drooling over for a long time now.
f) Motorcycle. Oh and classes. I could potentially kill myself with this one.
g) Really nice pair of season tickets to a sporting event.
I'm leaning slightly more towards starting a business. There is risk involved just like starting any business and I could just end up losing what I put into it.
School seems like a good choice, so does refinancing the car. I could also put the money I save from refinancing the car into schooling..
The home theater and motorcycle and season tickets are just pipe dreams, and I do realize that if the business is good then I could buy my little goodies in time. I am a patient person so, that's not too bad of an idea.
I have a few things in mind and I pretty sure I know what I'm going to do with it.
Here are my responsible options.
a) Start a business, I need to do some more research but this chunk of money should help with getting it started. I figure most of the money will probably go towards lawyers (type of business where they are important) and or equipment, I'll probably have to fund the rest myself slowly but surely. I imagine that a lot of money that I would be putting into it could be written off for next year.
b) Refinance the car. Lower my monthly payments, then I'll have more take home money, the difference in take home pay could go directly towards my funds for starting the business. I'm not hurting with what I'm making now, so I figure the extra money could go directly into savings.
c) Invest it, take that money and invest it, either with an IRA or something else, I haven't fully decided, I'll have to look into it more.
d) School, put this money towards education, I have no idea if I can then write this money off next year, anyone know?
Here are my irresponsible options.
e) Home theater equipment, specifically a a/v receiver that runs a pretty penny and some other upgrades. Something I've been drooling over for a long time now.
f) Motorcycle. Oh and classes. I could potentially kill myself with this one.
g) Really nice pair of season tickets to a sporting event.
I'm leaning slightly more towards starting a business. There is risk involved just like starting any business and I could just end up losing what I put into it.
School seems like a good choice, so does refinancing the car. I could also put the money I save from refinancing the car into schooling..
The home theater and motorcycle and season tickets are just pipe dreams, and I do realize that if the business is good then I could buy my little goodies in time. I am a patient person so, that's not too bad of an idea.