Smart Moves For 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
Expecting a tax refund this year? What should you do with it?
- Debt – What debts do you have month to month? What are you paying interest on? Credit Card? Student loans? Can you pay one of these down? Pay the highest interest debt first.
- Emergency Fund – Do you have 3- 6 months of living expenses saved? If not add your tax refund to it. High yield online savings accounts are best.
- Fund Your Goals – Buying a car? Saving for a trip? Getting close to retirement? Add this money to your goals fund.
Hopefully, you are getting a refund or not have to pay taxes. Review your tax withholdings so you do not have to pay at the end of the year.