Getting a tax refund? Before you spend it, take a moment to think about how it can benefit you in the long run. Whether you want to build savings, pay off debt, or invest, your refund is a chance to strengthen your financial future.
Here are some strategies for handling your refund wisely.
Build Your Fund
If you don’t have six months' worth of expenses stashed away, use your refund to get closer to that goal. An emergency fund is a must, and a refund can be the savings boost you need to be better prepared for the unexpected.
Pay Down Debts
Struggling with debt? Use your refund to help get out of debt. Start by paying your highest-interest debt first and then moving on from there.
Invest
If you have a solid emergency fund and are debt-free, consider using your refund to save and invest for retirement.
Save
Whether it’s a down payment on a home, an upcoming major expense, or a vacation, set aside your refund in a BridgeBuilder! This high-yield savings account ensures your money grows while you plan.
Category: Saving & Investing Money
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Getting a tax refund? Before you spend it, take a moment to think about how it can benefit you in the long run. Whether you want to build savings, pay off debt, or invest, your refund is a chance to strengthen your financial future.
Saving money can feel overwhelming, especially when there are multiple goals to achieve. Whether it’s a short-term goal like a vacation or a long-term goal like buying a home, having a plan can make all the difference.