Five ways your tax refund can improve your financial future
Five Ways Your Tax Refund Can Improve Your Financial Future
Start or Add to Your Emergency Fund
With the average refund around $2,800, this is good start towards the recommended three months income you should have in your emergency fund.
Pay Off or Pay Down High Interest Debt
If you have credit cards or other loans with rates over 12%, putting all of your refund towards those balances will be a great start to a better financial future.
Invest in Your Future
Using your tax refund to pay for additional training, tuition, a work-related conference or membership in a professional organization is an investment that can pay off for years to come in bigger paychecks and greater job stability.
Invest in Your Home
Use your refund to make needed repairs or improvements that will add value and comfort to your home.
Improve Someone Else’s Future
Giving some of what you have to someone who needs it more may not improve your financial future but it will make the world a better place and you will feel better for it.
Jim Yates, President
First Education Federal Credit Union