I’m talking about your income tax refund – if you were lucky enough to get one, that is!

Now before you dash off to the casino or squander this mini-windfall, hear me out. I want you to stop and think for a moment…

… what’s the best way to use your income tax refund?

There are quite a few things you can do with your newfound cash that ‘future-you’ will thank ‘present-you’ for:

1. Start that emergency fund you keep putting off. If you’re in the black, now might be a good time to set this up. You’ll have less temptation to dip into it. You never know when something >>unforeseen<< comes down the turnpike. You can think of this as the ‘pillow’ that breaks your fall.
2. Pay down your credit card debt. -groan- I know, where’s the fun in that? But I’m sure you had fun racking your card up, right? Look, if you have enough to pay off even one of your cards in one fell swoop, just do it. That’s one less monthly payment later. (Think of it as an installment plan for fun money.)
3. Start your investment portfolio with your very first investment. If you like this income tax refund, you’ll love the dividends that come with a solid investment portfolio with a mix of products. Not sure where to start? Here’s a list of great investments for beginners that might work for you.
4. Make a much-needed home improvement or repair. Let’s face it, your roof isn’t like fine wine. It won’t get better with age. If there’s so much sand coming off the shingles that you could have a beach party in the driveway, you might want to put your money down here.
5. Blow it all at the casino. Hey, I told you not to do that! But, if you have some funds left over from the above list, it’s absolutely ok to treat yourself (reasonably!). And if your income tax refund was $12, well… knock yourself out!

It can be hard to be ‘responsible’ when a nice lump sum of money comes your way, but that could mean your lifestyle isn’t aligning with your financial goals.

Are you in the right career? Do you take full advantage of eligible tax breaks to get back more at tax time? Did you put it all on red, when you should have put it all on black (kidding)?

It’s time to look to the future and plan out a roadmap where you don’t stress about money all the time. Call me at (330) 836-7800 or >>set up a time in my calendar<< for a 15-minute consultation, and we will review your unique situation together.