It’s tax day and many are scrambling to get their returns in before the deadline. Hopefully you are already done and are expecting a big check from Uncle Sam.
You’ve got “free” money and want to spend it. Go ahead and have a little fun, you worked hard all year and deserve to enjoy life. But wait! Don’t spend all of it at once. Check out these 6 ways to make your tax refund go farther.
Paying off high-interest debt is going to be a double-benefit. Paying off high interest debt is also going to lower your debt-to-income ratio and could improve your credit score.
You can get a maximum of $500 credit for all years combined that you put it on your return. The credit is for 10% of the cost of improvements, so you max out at $5,000 worth of upgrades.
Research firm Payscale found the return on a college education to be just under 12% a year on average. That’s the extra money you’ll make through your lifetime against the money spent and lost wages.
Ok, so this one may not seem as fun or as interesting as the others but it’s no less worth your time. You may not earn much money on your emergency savings in money market accounts but it will save you big time if you every need it.