Best Ways to Spend Your Tax Return
With so many people receiving their tax returns, there's no shortage of people offering advice on how one should spend his or her check. Well, if we may, we'd like to offer a few suggestions, as well.
Best Ways to Spend Your Taxes
HOWEVER YOU DESIRE!!! Granted, the check is not a "refund." A refund is indicative of a price being paid for a service or product which does not meet your expectations or is no longer needed. However, a tax return is exactly what it says... You paid taxes, and based on your income and family structure, you paid more than you needed to. So, the overage was returned to you. With that being said, have you told anybody else how to spend their money throughout the year. Unlikely. So, how you spend yours is your business!
But if you're interested in learning how to make that money work for you, here are a few suggestions:
1. Pay off your debt. It may seem like you're finally able to purchase some of the things you've gone without, but paying off your debt is one of the best things you can do to improve your credit, which could place you in a much better position in life.
2. Invest in yourself! That business idea you have that you can't seem to find the money to start... Well, now you have the money.
3. Buy property! Whether it's your own home, land, or property you can lease to others, buying property is an investment that can return several times over the money you put into it.
4. Make home repairs. These can be write-offs for your taxes next year; but bigger than that, the more efficiently your home runs, the greater the savings over the year in utility costs.
5. Take a vacation!!! You deserve it and so do your kids. It doesn't have to be expensive or extensive. A few days away from the hustle and bustle of everyday life can work wonders. (And if you need help in the planning process, I'm more than willing to help show you how to ball on a budget.)
These are just suggestions for those who may not have thought of them. Remember the song, "It's my party and I'll cry if I want to?"
Well, it's your money, get fly how you want to!