If you will be receiving a nice sized tax refund this year, there are a few things you could do with it. You could pay any outstanding debts, contribute to your retirement fund, or pad your savings account. Or you could go on a fun outing, mini vacation, or out to a nice dinner.
But if you’re looking to spend it on tools, here are a few ideas to inspire you with.
1. Upgrade Your Cordless Tool Kit
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Are your cordless tools starting to break down? Are the batteries in desperate need of replacement? Are you still working with *shudder* NiCd or NiMH battery packs? Are your tools large, bulky, or heavy? It might be time for an upgrade.
If you’re in the market for a new cordless drill or driver, we are especially fond of Bosch’s new brushless tools. They’re compact, powerful, and have incredibly long runtimes before you need to make a trip to the charger.
If you’re more interested in a top-notch saw, check out Milwaukee’s new cordless tools, which include M12 and M18 brushless reciprocating saws.
2. Spring For a New Pocket Knife
You *could* buy a sub-$50 knife that doesn’t suck, but where’s the fun in that? There are some nice Zero Tolerance knives coming out for 2014, and some great ones already out, such as the 0801 Rexford that we are really fond of.
If your refund is small or non-existent, or your needs more modest, check out the Kershaw Leek for EDC or on-the-go needs, or Mora Companion fixed blade knife for shop use. Both are very easy on the wallet.
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3. Get Some New Gear
Check out our Ultimate Tool Upgrade Gift Guide and our new tools category. We’d be surprised if there’s nothing there that you could use.
4. Is it Time For a New Tool Box?
As Father’s Day approaches, there will be sales on small hand-held tool boxes, ball bearing tool chests and cabinets, rollaways, mobile tool centers, and combos. If you’re shopping for a new tool box, you might want to push larger purchases back a couple of weeks.
If you’re looking for a complete overhaul of your portable tool storage setup, check out what we have to say about Bosch L-Boxxes, Festool Systainers, and Dewalt ToughSystem cases.
5. What About That Awesome Tool in Your Wishlist?
Everyone should have a few awesome tools in their wishlists. You know the type – the tools you know you could use, but don’t exactly need. For instance, a tactical tomahawk survival tool that is designed for life-or-death situations. Or maybe a utility bar that you’ll only use twice a year. Or a super-durable tactical LED flashlight, such as the Elzetta or Maglite Mag-Tac.
Maybe once a year we splurge on a tool, pocket knife, or other EDC item that we want and could use, but don’t exactly need.
It’s okay to treat yourself every now and then, so why not go with something awesome that will bring a smile to your face every time you use it.
So… What Are You Spending Your Tax Refund On?
We won’t get a tax refund this year, but if we did, I would spend it on a vibratory tumbler and an ultrasonic cleaner.
What will – or would – you spend your refund or extra cash on?
Josh
Picked up a used Rigid 15″ drill press! The government is keeping most of my money this year but it’s the little things
Javier
I have to spend my tax money on car repairs 🙁
Hang Fire
Buy tools instead and fix it yourself!
Javier
I don’t know how 🙁
Hang Fire
I didn’t know how to do any of my auto service jobs before I did them. 🙂 Lately you can find a how-to, with video or pictures, on just about any auto job imaginable. If you have any more questions there is a forum out there for your vehicle where people are eager to help you. If one forum doesn’t help, find another. You probably know someone who would be eager to help, if you only asked.
Joey
If it is something simple like brakes or an oil change, it shouldn’t be too much of a challenge. Remember, you also can find information on online forums, Youtube videos, or car repair sites online. Car repair can be a bit intimidating at first, but it is very possible to make DIY repairs.
Buying some of the tools to finish the task yourself may seem expensive, but remember, you will be saving hundreds of dollars on repairs.
Joey
What kind of problems are you having?
jason. w
Me and my wife are planing a trip out to California to be in a friends wedding next year. We used the refund to get the savings a jump start.
If only I could get my self a rotary hammer. Bosch bulldog…
Hang Fire
I treated myself to an OTC 5605 Deluxe Compression Tester Kit. Cheaper than buying adapters for my old compression gauge for all the new spark plug sizes.
John
So far the only tools it’s being used for are some masonry hand tools for a fireplace project I have coming up in a few weeks, a new lawnmower (Honda HRX217HYA), and a new string trimmer (Stihl FS56RCE). Mileage and per diem checks from work may mean a splurge or two later this summer.
Jason
You made a good choice with the Honda mower. I love my Honda HRX lawnmower the thing just works every time I need it. All I do for maintenance is just change the oil I use Mobile 1 high mileage synthetic, and change the spark plug and air filter every year. The only thing that is a slight pain is the dual blades it costs twice as much to sharpen as a single blade lawnmower. I do a hand sharpen a few times and just buy new blades every few season I just can’t justify paying a small engine shop 18 dollars when I can get new blades for around 25 dollars.
John
I was concerned about the cost of dual blades too but they aren’t something that gets replaced all that often so I’ll probably buy a second set to keep sharp and alternate with the blades that came with it. Used it the first time on Saturday and was pleased with the results. Being able to do a partial mulch and bag in one pass will be very convenient for my 1/2 acre yard.
Have you been using the Mobil 1 since new? I’ll be due for an oil change after the 3rd or 4th time mowing the yard this spring by the maintenance schedule in the manual and haven’t really thought about oil to use yet.
Jim
Another novel idea, if you have any, pay down you debt. If you are fortunate enough not to have any debt, invest it.
Stuart
Yup, I mentioned those in the first paragraph. =)
Joey
Well, I was planning to take the money, crumple it into little balls and eat it, bill by bill, but now you’ve ruined that idea for me.
mgeorge
What is this Tax Refund thing you speak of???
I have not seen one of those for years 🙁 and any more is “stolen” by AMT, obamacare taxes, taxes on savings, taxes on investments, I could go on , and on…but at the end of the day, I am still blessed.
Stuart
A tax refund means salary withholdings or estimated payments that are higher than necessary. Tax refunds correct for overpayment. Having to make payments means less withholdings or payments than are owed, and corrects for underpayment. It all balances out in the end.
If you don’t receive a tax refund, put a few bucks aside each month, into spring splurge savings.
Israel David
A tax refund means that you lent the government an interest free loan.
Hang Fire
Unless it is EITC, then it’s just free money (for those qualified; not so free for the rest of us).
Josh N.
Got some weekend tree-trimming to do, so I spent my refund on a Husqvarna 562 XP auto tune chainsaw 20″ and a Fiskars 7857 X15 23.5-Inch Chopping Axe.
Hang Fire
Got trees?
Josh
He won’t after his toys arrive!
Joey
Auto tune chainsaw? Now I know what T-Pain or Daft Punk would prefer to use to cut down trees.
Bill
love to spend the refund on some ‘must have tools” but I will be spending it on groceries due to job loss. I envy you guys due to all the cool must haves out there
Josh N.
Hope you find a job soon Bill, these are tough times.
joe
I did my taxes on the last day and waiting for the refund direct deposited to my account…maybe it’s already there haven’t checked…but I don’t know what tools to buy…
One thing that bothered me is that I did my t axes on the Internet and got charged 70 dollars…have I been prepared, I would have done them myself on paper like I always do and spent those 70 dollars on tools…ah well….you snooze you loose.
Hmmm…my truck needs a paint job so kind of debating to get it painted by a shop or paint it myself (would require to buy compressor, paint sprayer, and a tarp…of course the other little stuff like painters tape and painters paper….but I know I would save a lot of money doing it myself….plus I could paint it again if I decide to change my mind a few years down the line saving me more money….
undecided here.
joe
Doh! I hit the wrong reply button….sorry bill to hear that…I hope things work out for the best. Best wishes.