10 Best Ways to Spend Your Tax Return

1. Buy a slow cooker.

Doing this will allow you to toss meals into the slow cooker before you leave from work, and have a hot meal waiting for you when you get home. Less trips through the drive through or getting delivery will save you money throughout the year. (If you’re not sure which slow cooker you need, be sure to check out my post on How to Choose a Slow Cooker.)

2. Buy a side of beef or a whole pig.

Buying your protein in bulk directly from the farmer is an excellent investment into your future food budget. If you doubt you can use the whole quantity purchased in a year, split the meat and the costs with a friend or family member.

3. Buy a chest freezer.

Buying a chest freezer will give you added space for any bulk cooking that you do. Or it will provide you with ample space to stow that side of beef you want to buy. Additionally, it can make for an extra work surface if you’re low on counters in your kitchen.

4. Stock your spice rack and/or pantry.

If you’ve been meaning to start making your own chili seasoning or homemade marinara but put it off because spices and herbs can be costly, now is the time to purchase those items to expand your culinary skills. Additionally, you can get bulk bags of flour or rice (and the containers to store them), to reduce your cost per ounce of these staples. And check out this magnetic spice rack for stowing your spices neatly.

5. Buy new work pants and/or shoes.

Let’s be honest, you need clothes and shoes for your job. And they always want to wear out and rip at the worst possible times, like when you’re scheduled a clopen. You know you’re going to need these items, so get ahead of the game and buy the replacements with your tax refund. Save yourself the future stress of having to scramble shop.

6. Buy a quality mattress.

Man oh man. Sleep matters so much. And what you sleep on truly matters. Remember that you spend one-third of your life in your bed, trying to sleep. Arguably you spend as much time sleeping as you do working your 9-to-5. That’s a lot of time. Investing in a quality mattress suited for your sleeping patterns is arguably the most important item on this list.

7. Buy supplies for your hobby turned side hustle.

Have you got a hobby that you’re using as a side hustle? Whether it’s knitting or baking or candlemaking, any of these hobbies requires supplies to craft. Buying yourself more supplies for you to sell your goods is a fantastic way to upcycle your tax refund.

8. Buy insulation for your house to make it more energy efficient.

Are you living in an older house that had wretched utility bills? Arguably this doesn’t help if your renting, but if you own your home, consider getting insulation for your attics to help keep your furnace from working overtime. Optionally, you could also get energy efficient windows or appliances, depending on the size of your refund. Any of these will absolutely pay for themselves over time in the reduction of your energy bills.

9. Buy a coffee pot and milk steamer.

A Keurig? Sure if you want. Or an espresso machine. A French press. Go ahead and get the milk steamer and frother. Even though coffee prices are still soaring, making your own brew at home is so much more affordable than hitting up your local barista. Make your own fancy indulgence and use those extra minutes you would have spent waiting at the coffee shop to savor your coffee or pet your puppy.

10. Buy meal prep containers.

This purchase is setting you up for future success. Buy yourself a set of meal prep containers. Now, you will have to actually meal prep in some fashion to get the best use out of them. But having them available does make the task of cooking prep easier because you’re not having to dig around hoping for enough containers to put everything away. And if you’ve done a prep in advance of your work week, all you have to do is grab a lunch and go.

Bonus:

Pre-pay your cell coverage or your car insurance. Some mobile carriers, like Mint Mobile will allow you to buy a year’s worth of service at one time. So then there aren’t any surprises when you forget that your set your mobile service to auto-debit and it falls the day before your paycheck. You can also often do the same for your car insurance. Again, saving yourself the surprise of the charge, and most providers offer a discount for paying the annual premium in one lump instead of installments.