Best Ways to Use your Tax Refund

8:28 PM


One of the best things about the new year for most of us would have to be tax season. While you're anxiously waiting for those W2s to land in the mailbox, you should always start planning on smart ways to use your tax money. Here area few ideas that will put your money to good use. 

Save it

Not all of your money has to go into the bank, but setting aside money for a rainy day is a great idea. LearnVest.com suggests putting up to 20% of your income towards your savings. This savings could be towards a new car, home, or even the start of an emergency fund. 


Pay off a debt

Get those credit collectors off your back by paying off all or a good sum of a debt. It will keep those aggraviating calls and letters abay and help your credit score as well. Paying a little on your student loans or tuition bills wouldn't be a bad idea either.

Treat yourself

New hair, nails, and a new spring wardrobe -why not? You deserve to treat yourself in whichever way you see fit. Just make sure to toss out the old in exchange for the new.

Plan Something Big

You're most likely gonna get a big chunk of change and this money could go towards something big and like like spring break, a summer concert like the Essence Festival,  or even a vacation with friends.

Make a Smart Investment


This could be buying stock in one of your favorite companies, or most importantly investing in yourself. Take that class you've been looking into or start investing in that business idea you've been sitting on. This is the best time to do so. 


Donate

Make a difference in the world by donating some of your money to a local or international charity you trust. Make sure you research them first of course, but you will fill great knowing your money went towards a cause you believe in.

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2 comments

  1. These sound amazing! I'll plan on devoting my tax refund money to my blog in the form of conferences,camera updates,etc. :)
    http://www.aswestumblealong.com
    http://www.bloglovin.com/blog/7843547

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  2. I have to admit there is really nothing sexy about saving money, especially my tax refund. I find it more exciting to recharge my battery and get out and see the world. Each year I look forward to this time of year, it is when I plan my next cruise, trip, or journey around the country. This year i am excited to see all New York has to offer.

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