How to Wisely Spend Your Tax Return
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Just a few more weeks until it is officially April 15th – the due date for State and Federal Income Taxes. For many it’s a relief to just have them finished and paid for but for others it’s an exciting time of year where you possible have a bit extra cash around to spend. If you are one of the lucky few who received a tax refund this year, be sure you have a goal in mind for the amount of money and don’t spend it all in one place!
Here are some financially smart ways to spend your tax refund in 2016:
- Place the whole amount in your savings account
- Pay off credit card debt
- Start an “emergency fund” with your bank
- Add the money to your retirement fund
- Fill the “gaps” in your California Insurance coverage
- Build your child’s college fund
- Pay for a future family vacation
- Put money into your home by doing necessary improvements
- Give a portion to a local charity or religious organization
Extra spending money is always fun, but it’s even better when you invent the spare money into something that will add true value to your family’s financial life. Here at Remland Insurance we would be happy to help you invest your tax refund into additional insurance coverage as well as review your policies and let you know where more coverage is needed. Until next April….
