A tax refund is a great chance to set yourself in a better position for the future and take care of some of the things you have put off throughout the year. Whether you are getting a substantial amount back or just enough to check one off the list, here is a compilation of the Top 12 Things to Do with Your Tax Refund --- one of we which we are kind of partial to ;)
There are many ideas floating around online of ways to invest or spend your money when your tax moolah hits the bank. One in particular that caught our eye (mainly because, well, it's what we do) involves your greatest investment -- YOUR HOME.
HOME is the nicest word there is.
- Laura Ingalls Wilder, Author
FIX UP OR UPGRADE YOUR HOUSE
Now is the time to do some of those upgrades to appliances, painting, repairing walls and ceilings you have put off. Especially if you live in an older home, replacing old drafty windows and appliances can offer substantial savings in lowering your energy bills. Your refund may give you the jump start to start remodeling your kitchen or bathroom if it is out of date, improving the functionality of your house. Drywall Pros Inc. (#drywallpros) can assist you with all phases of drywall repairs and especially upgrading that popcorn ceiling you have been itching to get rid of. Any investment you do now will not only improve your own enjoyment, but will also increase the value and attractiveness of your home for future buyers should you ever decide to sell.
THE OTHER 11 WAYS TO SPEND YOUR REFUND
Create an emergency fund
Stick it in savings
Pay off outstanding debt or get caught up on bills
Fund your retirement
Start a savings account for your child(ren)
Start a college fund
Invest in the stock market
Take a course to help your career
Pay down on the principle of your mortgage
Take your side hustle to the next level and start a business
Review your financial portfolio and buy life insurance
Whatever you choose, make the most out of the refund you have no matter how big or small and use it to either upgrade your home, secure a little peace of mind financially with saving / investing / starting a new venture, or just get caught up or ahead. For many, this is the best time of the year to do it.