Yes, now that you have gone and purchased a bunch of High MER Mutual Funds, for your RRSP, what are you going to do with that big fat tax refund you will be getting?
- Buy a vacation that costs 4 times as much as your estimated refund, because you deserve it!
- Buy a new honkin Big TV, then forget you’d spent the money and put a down payment on a new car too, finally find another thing, so that you actually spend your refund 3 times over.
- Go back in time and adjust your tax payments, so that you have your refund money in your hands during the year and you don’t get a big wad of cash at the end of the year, that you are tempted to blow!
This really does seem to happen a great deal, that folks want to get big rebate cheques from the government, instead of filling in a form with your payroll folks to have less tax collected during the year?
Yes, I do end up with a tax refund, but not a big one, just enough in case I screw up or the day that this site suddenly makes me a fortune (I equate that with a lottery win), of about $1000 (it should really only be $200 as my goal, but I have screwed up a bunch of times on my taxes).
Why do people love big tax refund cheques, if it simply comes from buying RRSPs in February? I suppose it’s better than paying a big chunk of money because you owe, but I just don’t get it.