If you filed your tax return early, then you might be receiving one of those checks from the Treasury Department that is your tax refund.
Some people think that tax refunds are “free money” windfalls that can immediately be earmarked as disposable income. Thing is, you should have a good idea of what amount you’re entitled to and classify it as part of your regular income.
As such, you should be spending it carefully and wisely and not eye that new widescreen LCD with lust now that you have money to buy one.
Before spending your money on unnecessary things, be sure that you use it to solve your money issues first.
Pay your credit card balance. Whatever balance you may have in your credit card is bound to bite you back with interest. Repay as much as you can with your refund.
Pay your mortgage. Be happy if you still have a home and able to keep up with the mortgage. So why not get ahead of your payments and trim some off using your tax refund?
Boost your savings account. Why spend it anyway? Stash it in your savings account. Money saved.
