UTAH TECH UNIVERSITY'S STUDENT NEWS SOURCE | January 27, 2023

Tax refund spending options boundless

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That mid-April money boost is plumping students’ wallets. 

Coinciding with the semester’s end, tax return seasois fueling students’ travel plans and can provide a safety net for future investments and career choices. 

Shandon Gubler, associate professor of business, said students should keep money-saving in mind but should consider putting a portion of tax returns toward experiences that will broaden their knowledge scopes. 

“We’re about education [at Dixie State University], not just a degree,” Gubler said.

It’s inevitable some money will be funneled back in to pay other taxes, but returns can take students to great lengths.

Alex Hardy, a sophomore English major from St George, received about $1,100. He paid $500 in back taxes. Hardy said he put the rest in savings to spend in three or four months backpacking across Europe next summer with his girlfriend. 

Other students returned home using tax money.

Richard Cropper, a freshman music major from Salt Lake city, received close to $500 and said he spent it on a trip back home. Cropper said he spent all of the money on the trip.

Gubler said there are life lessons to be learned, but students need to “size up” the value of their travel. 

Trips broaden horizons, but for graduating students, other investments may make their objectives possible. Darren Chase, a senior communication major from Henderson, Nev.,  is going to buy a boom pole and directional microphone to go with a camera he plans to purchase once he has graduated.

Gubler said there are various ways to make money in the stock market and in savings, but these methods vary in effectiveness, and buying equipment could yield a greater return. 

However, past financial activities like credit card debt can restrict ways students use their returns. 

“Everybody’s got bills; you’ve got to do what you’ve got to do,” academic adviser Quin Monson said.

After relieving debt, students can focus on future financial strategies. 

First, get out of debt, Gubler said. Saving is not giving a high return right now, but savings and a rainy-day fund are good to have.

Written for Dixie Sun News by Emily Toone