What to Do with Your Tax Refund

  • March 30, 2015

We are less than a month away from the deadline for filing your taxes. Got a tax refund coming your way? Here are some smart ways to put that money to good use:
Student Loans – Put a percentage of your refund towards student loans. Especially if they have been holding you back financially, paying down a portion of the principal could really benefit you. Be sure the check any early payoff penalties before doing so.
Credit Card Debt – Have you been struggling with paying off a credit card balance? Use your tax refund to help pay down or off the amount. Doing so can help increase your credit score and open up doors to more possibilities.
Savings Account – Open a savings account or add to an existing one. Watch your refund grow with interest.
Take a Class – Have you been putting off taking a class to either further your education, begin a hobby, or advance your career? Now is the time to jump in and enroll! Use the extra money to cover the cost of class fees and books.
Go on Vacation – If you have not had the opportunity to get out of town for a couple of days, now may be the time. Use the money to book a flight or fill up the tank with gas to enjoy a couple days of relaxation or exploring.
There are many ways you can use your tax refund. Just keep in mind that using it to get further in debt is not usually the most financially responsible decision. Take into consideration the advice above and put that refund to work for you!

  • Facebook Icon
  • Linked In Icon
  • Twitter Icon
  • Google Plus Icon

Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1820).