If you got a tax refund this year, you’re probably still giddy about the extra money. Who doesn’t love an unexpected windfall? Maybe you gave the federal government a little too much out of each paycheck last year. But what matters now is that you’ve got a tax refund in hand, and you want to be wise about how to use it.
If you have yet to decide what to do with your tax refund, it might be time to set some priorities. This is going to be relatively painless, and hopefully it will help you gain some clarity on the money issues that keep you up at night.
If debt is dragging you down, this could be an opportunity to pay off a credit card or two, or some other high-interest debt that’s been plaguing you. If your refund is anywhere close to the average—which was about $3,000 last year—you could potentially take a serious bite out of any balances you’re carrying.Read more