Skip to content

9 Unique Ways To Spend Your Tax Refund

spend your tax refundAh, tax season. The time where some people get tax refunds, some people pay taxes, and financial gurus say that you shouldn’t be getting a refund because that means you loaned the government free money. However you feel about tax season, the truth is that many Americans get refunds. So then the ultimate question is, what are the different ways to spend your tax refund??

9 Unique Ways to Spend Your Tax Refund

This post was written by our staff writer, Kimberly Studdard. It contains affiliate links.

Also, around this time, many blogs and websites write an article on how to spend your tax refund. While they can be helpful for the masses, they all talk about the same things. Many lists include:

  • paying off debt,
  • creating an emergency fund, and then
  • splurging a little on yourself.

But you’re different than the rest, so how can you spend your spend your tax refund differently? Well, you’ve come to the right place. Here are 9 unique ways to spend your tax refund.

1) Hire A Coach

Have you ever thought about hiring a coach?

  • Maybe a career coach to help you land a 6-figure job.
  • Maybe a life coach to help you achieve and live your best life.
  • Or maybe, you want to hire a business coach so you can start your own business.

There are so many different coaches out there, and you’re bound to find someone that can help you improve just about any area in your life. If you’re looking for the most unique way to spend your tax refund, this is it. You get to splurge on yourself, build your skills, and work with someone you may have wanted to work with for a while. And it won’t cost you any extra out of pocket.

2) Robo-Invest

While investing is a great way to spend your tax refund, many people may try to keep it safe and invest in their Roth IRAs or in a CD. But, why not be a little riskier and take a chance this year? If you aren’t ready to hire a financial advisor, or if you’re just getting started in stocks, try robo-investing! There are so many different apps and websites that allow you to invest without a minimum payment, including:

Plus, these platforms have their own advisors, blogs, and more that can help you learn more about investing and make better decisions.

3) Prepay Your Mortgage

If you are currently paying off your mortgage, why not give yourself the gift of paying it off faster with your tax refund? If you don’t have to pay any penalties (or if the penalties don’t outweigh the principle payments) use your tax refund to pay extra on your mortgage this year! Also, make sure that the tax refund money you put towards the mortgage goes towards the principal, not just the interest.

4) Contribute To Your Child’s 529 Plan

If you have kids and you want to start creating a better life for them, why not open up or contribute to their 529 plan? If they decide to go to college, having some money that goes towards necessities in school would be beneficial. Plus, you can get tax breaks for contributing. Win-win!

5) Start A Side Hustle or Business

In today’s society, everyone needs a side hustle. Whether it’s to be more creative, become well rounded, or to pay the bills, having a side hustle is important. So why not spend your tax refund on getting that side hustle or business started? You can use the money to pay for tools or resources or to finally get your blog off the ground. Whatever you decide to do with it, make sure it’s for a side hustle that you enjoy and will stick with!

spend your tax refund6) Create An F-Off Fund

If you haven’t heard about the F-Off fund yet, it’s basically just a savings fund that you have in case you decide to quit your job and figure out your next move. It’s a fund that is separate from your regular savings because it’s just for you to have freedom should you need it. An F-Off fund is the account you need so you don’t have to constantly tell yourself “I need this job”.

7) Do Something On Your Bucket List

This isn’t your typical splurge, where you spend a bunch of money on clothes, eating out, or getting yourself a new car. No, instead, spend your tax refund on an experience that you may never get the chance to do again.

  • Go skydiving.
  • Take a cruise and swim with the sharks.
  • Backpack through Europe for a few weeks if you can.

Just find something on your bucket list and do it. Life is too short, so if you can treat yourself, do it right.

8) Invest In Personal Development

Your mental health and growth are important. If you…

  • work a full-time job,
  • have side hustles,
  • are in college,
  • have kids, or even
  • own a business…

…you most likely aren’t focused on personal development.

But you should be. So, spend your tax refund on some personal development this year. It could be attending an event to see Tony Robbins or even purchasing a course that teaches you how to meditate. Whatever it is should feed you mentally and spiritually, so you can fill your cup and be a better you.

9) Invest In Someone Else

Want to give back with your tax refund this year? Why not take some time off to volunteer, or even spend your tax refund and set up a microloan? A microloan is a low-interest and short-term loan given to start-ups and self-employed individuals all over the world.

If you want to invest in someone else’s dream to start a business, offer them a microloan! It’s a great way to see someone else become successful, and a smart use of your refund if you don’t really need to use it yourself. Plus, you can even earn some money back.

Unique Ways to Spend Your Tax Refund…Which Will You Choose?

While you can spend your tax refund any way you like (or not receive one at all), there are so many unique ways to use it. Of the options above, how do you think you’ll spend your tax refund this year? Tell us in the comments below!

Battle of the Mind Money

AUTHOR Kimberly Studdard

Kim Studdard is a project manager for online entrepreneurs and small businesses. When she isn't spending time with her daughter and husband, or reading her growing pile of horror books, you'll find her working on her HR degree and working towards FIRE.


  1. We never spend our refund, in the rare instance we get one. It either goes right back to the government in the form of estimated tax payments for the current year, or we save and/or invest it.

    • Yup, you’re boring like us! 🙂

  2. Thanks a lot for a bunch of different ideas. This is all so exciting. I decided to spend this year refund on my own education and development!

    • Nice! And be sure to work toward getting a smaller refund next year!

Comments are closed for this article!

Related posts