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How I'll spend my tax refund

The majority of Americans are getting money back from Uncle Sam this year. Here's what some people are doing with their refunds.

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Paying off debt, renovating, splurging on an Xbox
Paying off debt, renovating, splurging on an Xbox
Karen Montgomery
Refund: $10,500
Occupation: Graphic designer
Current city: Charlotte, N.C.

I was so sick of being pestered by my credit card company that once I got my refund, I spent $2,000 of it right away to completely pay off my card. Now I'm finally done with those guys!

I've spent about $500 moving into a home I bought in February with the new homebuyer credit, and I've already put another $1,000 toward fixing up the place. Since it was a foreclosure, I've had to start from scratch with the painting, cleaning and plumbing, which all really add up.

Once I'm finished with repairs, I'll have about $2,000 to $3,000 left over, which I'll probably spend on a trip to Dallas to visit my family. Or maybe I'll splurge on an Xbox 360 -- just for "Rock Band," of course.

NEXT: Buying a TV, jetting off to Vegas
Last updated April 13 2010: 9:37 AM ET
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