I'm getting back $3,000 dollars for income tax. I only paid in 800 but since i had a baby..and earned income credit, i get $3,000 back. Isn't That Great....But i don't know what to do with it? Well i know what i want to do with it but i want to hear what you guys would do with it?
Yup, I'm totally with JoeKD. Maybe you could begin a Roth IRA for either yourself or your baby. Since you'd be contributing your after tax dollars, there would be no taxes when it's withdrawal time (first home, retirement, etc.).
Oh yeah, and take the lady out for a night on the town.
Yet another vote for JoeKD's wize advice!!! You will be a happy man for it (!) and feel good about yourself knowing you have done something for the betterment of your child.
Second suggestion is, if you have any high interest debt, pay it off!!