Tax Refund Burning a Hole in Your Pocket? Go Spend it Here

It’s tax season, and for those people receiving a tax refund, it can feel like Christmas, with a bonus stash of money that can be as unexpected as it is enjoyable. The fact that it was your money to start with seems irrelevant — it’s time to spend this windfall!

A recent survey from Travelocity found that 30 percent of people getting a tax refund want to use it for something indulgent, and of those, 47 percent want to devote their refund to a “dream vacation.” So if you’re getting a check from the IRS and want to splurge on travel, here are some great spots to go now for your tax-refund holiday:

Europe

Go to Greece if you want to get the most bang for your buck. (Photo: Thinkstock)

If you want to get more bang for your tax-refund travel buck, now is the time to take a trip to Europe. The euro is at its lowest value versus the dollar in over a decade, having dropped nearly 25 percent in just the last year. It’s like the whole continent is on sale! The nearly 1:1 exchange rate makes the conversion math a lot easier, too. Countries like Greece and Portugal that have been hardest hit by the Eurozone economic crisis have become even cheaper and are eager to support tourism.

Related: A Summer European Vacation Just Got a Lot Cheaper

Vegas, baby

A refund is kinda like free money, so you might as well go double or nothing on the roulette wheel. (Photo: Sean Locke/Stocksy)

Save your newfound money? Ha, as if. Go to Las Vegas for a self-indulgent gambling trip and put your whole refund on red 23 in roulette for the 35-1 payoff. Unfortunately, the odds of winning are 37-1, so it’s a losing proposition. But who cares, it’s free money, right? Check out the latest lodging trend in Vegas, and stay at one of the newer boutique hotels like the Cromwell, Nobu Hotel, and SLS Las Vegas. And since you feel like a high roller with all that extra cash, be sure to take a nighttime ride on the new High Roller Ferris Wheel for some epic views over the neon landscape.

Related: A Summer European Vacation Just Got a Lot Cheaper

Financial cruise

Spend your money learning to make more money! (Photo: Crystal Cruises)

The opposite of blowing your tax-refund money at the casino tables of Vegas would be to use your vacation as an educational tool to better invest your money. One example would be to sail on the MoneyWeek Cruise for Investors through the Mediterranean this fall aboard a Crystal Cruises ship. In between port stops around Italy, Greece, and Turkey, you’ll attend “seminars at sea” in which financial experts will share investment advice and strategies. I’d probably throw myself overboard after the first day, but for some, this could be the perfect combination of holiday and education.

Related: Dream Vacations You Can Actually Afford

Switzerland

Hike the Swiss Alps before discussing your “savings strategy” with your Swiss banker. (Photo: Thinkstock)

Maybe you don’t want to let the IRS get its hands on your loot again; you’d prefer to hide it away in a secret Swiss bank account. This gives you a good excuse to fly out to Zurich or Geneva to meet your banker in person, then take a hiking trip in the Alps. But do keep in mind, regardless of Swiss confidentiality policies, U.S tax evasion is still illegal, and there’s been a recent crackdown on banking practices there, so maybe just take a tour of a bank and spend your money on Swiss cheese or chocolate instead.

Cayman Islands

Make some unique underwater friends in the Cayman Islands. (Photo: Getty Images)

Like Switzerland, the Cayman Islands are known as a secretive tax-free haven for parking millions of dollars in undeclared cash. And like Switzerland, the Cayman Islands financial institutions are being pressured to supply more information on their depositors. But who cares — “doing tax research” is a good excuse to fly down to the Caribbean for a scuba-diving vacation or a cruise to see some of the Caymans’ famous sea life.

Turkey

Head to Istanbul to tour the beautiful mosques and explore the city’s history. (Photo: Thinkstock)

Another fine option for stretching your tax-refund dollars for travel is to take an affordable trip through Turkey. The Turkish lira has been plummeting in value versus the dollar due to economic and political troubles there, recently reaching record historic lows. But while that country’s troubles are regrettable, a thrifty (and careful) tourist who wants to check it out can do so at a bargain rate. This includes the amazing history of Istanbul, relaxing on a Mediterranean beach holiday, visiting ancient ruins, and touring the cool caves of Cappadocia.

Tour the U.S. Mint

A nice refund might have you appreciating those dollars and cents even more, so go learn all about where they come from at the U.S. Mint in Denver. (Photo: Getty Images)

While you can’t go to IRS headquarters and thank the staff personally for your refund, you can take several U.S. government money-related tours. In Washington, D.C., the U.S. Treasury offers tours of its main building on Saturday mornings, but you have to make reservations through your local congressional office. If your refund is small, take one of the free penny tours at the U.S. Mint facilities in Denver (guided, reservations needed) or Philadelphia (self-guided, no reservations required) to see how your coins are made. And probably the most impressive tour is in the “money factory” of the U.S. Bureau of Engraving and Printing, where you can watch millions of dollars being printed in the Washington, D.C., and Fort Worth, Texas, facilities.

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