Tax refund plan
Decide where your refund goes before it lands.
A tax refund is one of the biggest single amounts many people get all year, and it is easy to spend without noticing. Deciding where it goes before it arrives makes it count.
Write your expected refund, choose a percentage for each use, and work out the dollar amounts. When it lands, tick off each transfer.
How it works
Write your expected refund. Choose a percentage for each use, multiply the refund by each percent, and write the dollar amounts. When the refund arrives, move each amount and tick it off.
| Use | Percent | Amount |
|---|---|---|
| Emergency fund | 30% | $720 |
| Pay down debt | 40% | $960 |
| Savings goal | 10% | $240 |
| Sinking funds | 10% | $240 |
| Fun money | 10% | $240 |
How to use it
- Write your expected refund amount.
- Choose a percentage for each use and work out the dollars.
- When the refund arrives, make each transfer and tick it off.
Ways to use it
- Small refund: pick just one or two uses.
- No refund this year: use it for a bonus or gift money instead.
- Couples: plan it together before filing.
Tips
- A common split: some for emergencies, some for debt, a little for fun.
- Move the money the day it arrives, before it blends into everyday spending.
Questions
What should I do with my tax refund?
Many people split it: some to an emergency fund, some to high-interest debt, some to a goal and a little for fun. Deciding before it arrives makes it count.
How do I avoid wasting my tax refund?
Plan the split in advance and move the money the day it arrives, before it blends into everyday spending.
When do tax refunds arrive?
It depends on when and how you file. Filing early and choosing direct deposit is usually fastest.
Goes well with
- Emergency fund tracker Start with $1,000, then build to three months of expenses.
- Debt-free chart 100 squares, each worth 1% of your total debt. Color them all in.
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This printable is a general planning tool, not financial advice. Read the full disclaimer.