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What Will You Do with Your Tax Refund?

by Linda Warner

RefundheaderThe tax deadline is April 15 and hopefully your return has been filed and you are left waiting eagerly for your refund.  The website SmartAsset estimates that Vermonters will receive an average of $2254 for their tax refund this year assuming it is similar to last year.  So … what will you do with that refund?  Will you be totally practical or go a little wild?  We have a few suggestions for you, no matter what your intention.

Your check’s arrived and you’re feeling rich.  If you just want to enjoy your new wealth, here are some ideas.

  1. refund2Buy a large Ben & Jerry’s cone at approximately $5.74 each for your family of 4, every day for the entire summer.
  2. Have a night out for 2, twice a month for the next year (based upon dinner for 2 costing about $100).  Try The Copper Grouse at the Taconic in Manchester for a really special dinner.
  3. Purchase an annual spa membership at the Essex Resort and Spa in Essex, Vermont for $1500 and have enough left over to dine at this fabulous culinary resort.
  4. refund3Plan a weekend getaway up to 6 times a year for just you and your special someone.  The Romance Package at the magnificent Wilburton Inn in Manchester will treat you like a celebrity with champagne, chocolates and roses.
  5. Ski until you drop.  Buy the All Access Summit Pass at Stratton for you and your spouse and pay sale price of only $2238 (available until April 22).

If you can’t help yourself from doing the responsible, practical thing, consider these ideas.

  1. refund4Use your refund to pay your rent or mortgage.  SmartAsset estimates your refund will cover about 2 months based upon Vermont housing costs.
  2. Stock up on pellets for your stove next winter.  Your refund buys about 8 tons at $265/ton. Vermont Renewable Fuels in Manchester provides pellets and pellet stoves.
  3. Buy your holiday gifts early.  Why not Darn Tough Ski Socks (made in Vermont) and guaranteed for life?  Don’t forget some maple syrup, one of the most iconic Vermont gifts.  And for something really special, include the new coffee table book, “Vermont An Outsider’s Inside View.”  Your refund purchases 5 pair of socks each for 10 friends, 10 books for your relatives, and 20 pint jugs of syrup for teachers, coaches, etc.
  4. Refund5Book next year’s vacation now and take advantage of specials.  For example, book your winter 2016-17 vacation at Smugglers’ Notch and receive this winter’s package rates.
  5. Stock up on your favorite Grafton Village 2-year old aged cheddar and pair with a Vermont fruit wine or local craft brew.  (This might not sound as practical as the other suggestions, but you know you love it.  Might as well make sure you’ll never run out.)

For more ideas on how to spend that tax refund, check out  lodging, dining, and shopping.

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