1) Refund Reward yourself
First off the bat, reward yourself with some of that refund money! A little indulgence goes a long way to a sound saving plan says http://www.thestreet.com/.
2) Refund your credit card
As a certified financial planner Lauren says her clients were more motivated to pay down debt after a small splurge with their refund. A good target, is tip number two. Refund your high-interest credit card--the average household owes about $7,000 on their plastic, now's the time to knock out a chunk.
3) Refund your loans
While we're talking about debt, put some of that new loot towards your loans. Use your refund for a student loan, car loan, or home mortgage. Remember one extra payment per year will knock 5 years and thousands in interest off a 30 year mortgage.
4) Refund your home
While you're investing in your home, consider putting your refund toward home maintenance. Roofwork, painting, or any repairs you've been putting off which could cost you in the long run.
5) Refund your vacation
Refund spending on number five is an all around favorite. Invest in some R and R. 6) Refund an emergency fund
Number 6 will reward you with peace of mind. Consider putting your tax return money in an emergency fund. Consider saving at least 6 months of living expenses.
7) Refund Charity
Give to someone else. Your helping other people and you're helping yourself. You not only feel good you get a deduction next year.
