Smart Ways to Spend Your Tax Refund

Smart Ways to Spend Your Tax Refund

It’s that time of the year… tax season! Doing your taxes is rarely enjoyable, but it does get better once you get that tax refund. Here are some smart ways you can spend your refund.

Pay of Credit Card Debt

Credit cards can be helpful but they can also be pesky when debt builds up on them. Use your tax refund to pay off some debt and avoid interest payments.

Start/Build an Emergency Fund

An emergency fund is a perfect in-between of your checking account and savings account. It’s money that you could pull from in case you really need it. Start a new account or build onto an existing emergency account.

Savings

It never hurts to put more money into savings. It’ll help you earn positive interest and it puts a little extra boost in your account.

Fixer Upper

Have you always hated that pink bathroom tile? Put your tax refund money towards something in your house that you’ve always wanted to fix.

Donate

Why not give back with your tax refund? Pick your favorite charity (or multiple charities) and make a donation to them. Check out one of our favorites here.

Prepaid Debit Card

Prepaid debit cards have the benefit of no bank fees, so if you want to give your kids an allowance with your tax refund, this is a great way to go.

 

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