What to do with tax returns?!

Paying off your car will not lower your credit rating, nor will you see any penalties for doing so.  Taking a good chunk out of your car payment can lessen the interest you will pay for the remainder of the note.

What is your highest interest rate for your debts?  Credit cards, car, school loans?

Financial planning in your 20's will benefit you greater in the future.  Or you can just save that cash and build cash reserve.  If you are serious about not having any debt besides your car, start building that first $10k in savings.  It is boring and responsible, but if you hit hard times it is a real lifesaver. And these days it seems to be more of a reality than an abnormality.

 
I was just reading an article that 30% of Americans do not even have $1,000 in savings.  Unfortunately, I fall into that 30%.  I have more that that in my checking account usually, but not for long periods of time with all the bills I have to pay!

 
That is pretty much my point.  My motorsports budget account and the house savings account kept us liquid and off the Credit cards for the 9mo my wife was out of work (maternity complications and leave). 

People don't give this stuff enough thought in their daily life.  They live paycheck to paycheck and always have to obtain the latest and greatest 'stuff'.  It is pretty normal to do this in your 20's especially after you get a real job that pays more than double minimum wage, but it is the practical folks that really have the money.

 
I totally hear you Pedro.  I did that in my 20's, and I wasn't responsible with it, so now I'm still paying the price in my 30's.  I wish I had listened to my parents, but that plastic kept burning hot.  Now I'm trying to be more responsible about things, but I still have quite a bit of debt.  However, I do own my own house (built it a few years ago) and think I'm fairly responsible with money these days.

 
I hate debt
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my vote goes for FIXING what needs to be, and making a big fat payment to prinicple.

 
It's smart to get maintenance done and pay some of the car. I gotta take my taxes/refund to fixing/building my car and paying off my credit cards....Me being a dumb young person I racked some credit card debt which I got a handle on now but it's still biting me in the ass

 
I'll be paying off a higher interest credit card, and investing what is left over. In 2012 I had about $20 more than I usually do taken out of my paycheck so I will get more back this year. I like the big chunk in April better than small amounts throughout the year.

drvsdwz said:
Donate $20 to the site :-)

But seriously, you don't need to get a different accessport if you put a 2.5 in it. Ecu is the same, just need a retune.
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donate 10% of what you get back!

 
Pedro said:
Paying off your car will not lower your credit rating, nor will you see any penalties for doing so.  Taking a good chunk out of your car payment can lessen the interest you will pay for the remainder of the note.

What is your highest interest rate for your debts?  Credit cards, car, school loans?

Financial planning in your 20's will benefit you greater in the future.  Or you can just save that cash and build cash reserve.  If you are serious about not having any debt besides your car, start building that first $10k in savings.  It is boring and responsible, but if you hit hard times it is a real lifesaver. And these days it seems to be more of a reality than an abnormality.
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^this.  If you have no savings, use the return to start one.  If you have a healthy savings, use the money to pay down a debt (preferably the highest interest, or totally pay something off).  If you have a healthy savings and no debt, invest the return.  Car mods and Monster swills can wait for another day when you're debt free and have a comfortable level of liquidity.

 
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