3 Ways to Maximize your Tax Refund
What is the Money Date? A weekly time to check in. 3 things we review and update: 1. Spending 2. Earning 3. Savings
“The avoidance of taxes is the only intellectual pursuit that carries any reward.” –John Maynard Keynes
In this week’s Money Date, we’ll examine smart moves for your tax refund. Specifically, we’ll look at three ways to maximize your tax refund.
Pay down/pay off high-interest rate debts
- credit cards
- student loans
- home equity loans
Build up an emergency fund
Remember our rule of thumb: 3 to 6 months of income for emergency savings. Using your tax refund is a good way to beef up your “Curveball” account.
Retirement funds
We will all be retired someday … and we can always save a bit more in our retirement accounts!
- don’t forget about catch-up contributions
- Roth IRA, if income allows
- Taxable accounts, earmarked for retirement
