Wednesday, February 22, 2012

5 things to do with your tax refund

Got a large tax refund?  Consider doing one of these 5 things with the extra money:

1)  use it to reduce your debt.

2)  save it to be used for a car

3)  start a college education fund for your children

4)  invest it

5)  save it in your rainy day fund

Don't treat the tax refund like you won the lottery.  Put it to good use.

If it's quite large, you may want to consider adjusting your withholdings--no need to give the government the money, even if you're going to get it back.  Your overall paycheck will be slightly bigger instead of one lump sum tax refund.

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