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.
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.
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.
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.