3 Ways to Maximize your Tax Refund

3 Ways to Maximize your Tax Refund

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
Anna Sergunina
Anna Sergunina

I passionately believe that in order to live a life of fulfillment and joy, we must genuinely serve each other in any way possible. I found my mission in life to serve others via financial planning. Anna regularly writes about personal finance. Her work appears on Business Insider, Nasdaq, Nerdwallet, among others. Anna is the creator of Money Flow system.

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