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What to do with your tax refund

WHAT TO DO Quith your) TAX REFUND WHEN YOU HAVE A CHUNK OF CHANGE, it's hard not to spend the extra cash on something you've really wanted. Instead of blowing it all, split it up. Save at least 10%, splurge 20%, and put the rest toward any outstanding debt – especially credit cards. do you bave any DEBT? YEP NOPE do you have an EMERGENCY SAVINGS? Pay it down and spend less on interest. Start with debt with the highest interest rate. NOPE YEP is it BUILD IT and use it for: ENOUGH? NOPE It should hold three to six months of living expenses. YEP Computer death New tires Unemployment Illness do you have a RETIREMENT ACCOUNT? is it MAXED OUT for the year? YEP NOPE YEP NOPE The sooner you start a Contributing up to the maximum tax-advantageous amount in an IRA or other retirement accounts gets the retirement account, the more time it has to earn for your retirement later. Invest in yourself. Get interview clothes, start your web biz, or get a dental or eye checkup. most from your money. E or you could: $2,913 33% of Americans plan to spend all or part of their refund. the average refund amount in 2011. Get into other investments such as a stock portfolio or real estate. E too boring? you can also: Buy in bulk. (discounted movie tickets, pet supplies, Splurge on something Start a savings fund fun and frivolous. for a vacation. whatever tickles your fancy). April 2012, ObrassLMEDIA, Researcb es writing: Jennie Bartlemay Design es layout: Kyla Tom ****.. ***.. ....... <.…..... *.*..*:>

What to do with your tax refund

shared by MoneySideOfLife on Apr 13
A quick little flow chart that gives you ideas on how to spend that tax refund headed your way.



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