5 Things To Do With Your tax Refund
Now that tax day has come and gone, you can breathe easy until next year. Hopefully you got them done early and you didn’t have to stress at the last minute.
If you did your taxes early enough, you may already have your tax return back if you didn’t have to pay anything this year. So what to do with your refund? We have some ideas for you.
1. Pay off high interest debt – If you have any loans or credit cards, you want to pay those off as soon as you can. Paying more than you usually do every month with extra money from your tax return could help pay off those debts down faster and without extra interest.
2. Put it in your savings account – Or start one! Starting, or contributing to a savings account is like paying yourself. You’ll have that money to use at a later date on bigger ticket items.
3. Spend it on something you need – Has your car been acting up? Have you been putting off that pricey trip to the dentist? You need to take care of these essentials, and now that your refund is here, you can cover the cost.
4. Make Home Improvements – Need a new roof? Is your kitchen outdated? New energy-efficient appliances could help you save money on your utility bills. Plus, home improvement projects can immediately increase the value of your property and make your home more comfortable at the same time.
5. Splurge a little – If you have taken steps to put a little in savings, pay off some debt, there is nothing wrong with splurging a little! You’ve worked hard all year; why not get something nice for yourself!