Five smart ways to make the most of your tax refund.
Mel Barnes, SVP – Chief Operations Officer
You know the phrase “don’t spend it all in one place?” Pretty good advice. Especially when you’re talking about your tax refund. Sure, we get it. After spending hours (which seem like years) filling out your return, you probably want to reward yourself right away with a fancy new...whatever. Totally understandable. But there are better things you can do with your money. Here are five smart ways to spend your tax refund.
- Pay off credit card debt: ‘Nuff said. It’s hard to have fun when you have a looming credit card balance in the back of your mind. So pay it off and get back that blissful feeling we call peace of mind.
- Invest in yourself: Considering going back to school or even just taking a couple of classes? Maybe you can get a higher salary at your job if you just get that one last bit of certification? Or heck, maybe your passion is underwater basket weaving and you just want to take a class on Monday and Wednesday evenings? You do you and use your tax refund to invest in yourself.
- Home improvement: There’s no place like home. So if your humble abode has gotten a little too humble over the years, use your tax refund to invest in home improvement. New roof. New washer and dryer. New room. Whether it’s for curb appeal or much-needed upgrades, give your home some love.
- Give back: Donating some (or all) of your tax refund to helping others is definitely the most compassionate thing to do. It also just feels good, y’know? Long after the buzz of buying a new TV or gizmo fades, and it becomes just more stuff, the feeling of helping others will continue to grow.
- Save: Saving may not seem like fun now, but it will months or even years from now when there’s something you really want. If you want to put back your tax refund, we suggest investing in a certificate of deposit or individual retirement account with us. Now’s a smart time too. With our competitive rates and wide range of terms, you’re sure to find what you’re looking for. See our available CD and IRA options.
Looking for more ways to make the most from your tax refund? Contact us.