Monday, March 4, 2013

Pondering Tax Returns

I know not everyone gets a tax refund.  But for those of us that do, this is probably worth saying:

It's easy to think about your tax refund as a cash bonus from Uncle Sam that you can spend on whatever you want.  I'm not so sure that's a good and Godly response.

All of our money, wherever it comes from, belongs to God anyway.  And just like with our regular income, we should seek to honor God with 'lump-sum' incomes that come our way as well.  A few questions and points that may be helpful:
  • What percentage of your regular income are you giving away?  I would think about matching that percentage with your refund.
  • Do you have any pressing needs that this extra money can help you take care of?
  • Do you have anything you are (or should be) saving for?  
  • We shouldn't spend all of our tax refund at nice restaurants in April and then complain in June of not having enough money to buy beans and bread.
In general, the less impulse-ridden your money decisions are, the better.  So if you're expecting a tax refund, plan to honor God with it now, before it arrives.

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