• Name: Eric Knoepfler
• City: New Orleans, La.

Like a proper New Orleans' resident, 22-year-old Eric Knoepfler plans to put the roughly $200 he's expecting to get back from the IRS toward hosting a crawfish boil for all of his friends.

A local tradition, a crawfish boil entails cooking crawfish along with corn, potatoes and spicy sausage in a massive pot. Knoepfler expects he can buy a special pot, outdoor burner and 50 pounds of live crawfish with his refund cash.

"I've never owned my own pot. It's always been a family thing," he said. "I'm getting to the age where I want to start hosting my own."

NEXT: A 529 college savings plan