3 February 2023

50 ways to spend your tax savings!

In our experience, many business owners often feel guilty about spending money, unless the money is spent on growing the business. This could be a combination of fear of misallocating funds, personal financial concerns or moral and ethical considerations. 

Please find 50 ways you could spend your tax savings this year:


1. Invest in a retirement account

2. Pay of any debt

3. Save for a home deposit

4. Start or add to an emergency fund

5. Invest in the stock market

6. Make upgrades in your home

7. Plan a holiday

8. Donate to a charity

9. Start a small business

10. Take a short course

11. Put toward a new car or bike

12. Start a school education fund

13. Start and real estate investment fund

14. Save for a future wedding

15. Put towards a gym membership

16. Purchase a new book 

17. Start a side hustle

18. Sign up to a seminar

19. Upgrade your technology

20. Save for a boat or fishing gear

21. Refinance your home mortgage

22. Replace outdated appliances

23. Purchase a nice gift for a loved one

24. Improve your energy efficiency

25. Save for your kids engagement party

26. Purchase a local artwork

27. Buy a new piece of furniture


28. Pay off your credit card

29. Sponsor a zoo animal

30. Buy chocolates for your colleagues

31. Purchase a new smart phone

32. Save for new tyres for your car

33. Buy a set of golf clubs and lessons

34. Purchase the latest washing machine

35. Buy a gift card for your favourite person

36. Spend it all at Bunnings

37. Visit your local nursery

38. Buy flowers every week for yourself until the money runs out

39. Take an art class

40. Plan a fancy dinner party

41. Sign up to a health app

42. Purchase a new fridge

43. Buy your favourite teacher an extravagant gift

44. Purchase new hiking boots and quality socks

45. Give your favourite not for profit a gift

46. Purchase the most high end set of pots and pans

47. Buy something special for your car

48. Review the best smart watch and purchase

49. Buy a stranger lunch or a coffee

50. Have fun whatever you choose!


Let’s chat if you would like help with tax planning or if you are feeling guilty about spending money.