Dr. Laura Connerly: Smart Ways to Use Your Tax Refund
By: KARK 4 News at Noon
Updated: March 12, 2013
It's always nice to get money back from the government at tax time.
Many Americans will be tempted to splurge their refund on something fun.
Financial expert Dr. Laura Connerly with the University of Arkansas Cooperative Extension Service has some money-wise suggestions for refund recipients.
Her recommendations include:
Many Americans will be tempted to splurge their refund on something fun.
Financial expert Dr. Laura Connerly with the University of Arkansas Cooperative Extension Service has some money-wise suggestions for refund recipients.
Her recommendations include:
- pay down debt
- build emergency savings
- save for retirement
- buy savings bonds
- use direct deposit
Comments
Maybe you assume that a small tax refund check won't make enough of a dent in you debt. Think again. Every little bit helps. Paying down debt takes time, but steadily increasing your monthly payments does have an impact. If you don't have debt, but you also haven't saved, make sure you put a little away in a savings account for a rainy day or have a reliable cash pay day advance in your mind. That way, your tax refund will continue to grow.
Matthew M.
April 10, 2013 at 2:11 am
Maybe you assume that a small tax refund check won't make enough of a dent in you debt. Think again. Every little bit helps. Paying down debt takes time, but steadily increasing your monthly payments does have an impact. If you don't have debt, but you also haven't saved, make sure you put a little away in a savings account for a rainy day or have a reliable cash pay day advance in your mind. That way, your tax refund will continue to grow.
Matthew M.
April 10, 2013 at 2:11 am
