Americans with tax refund checks may be starting to wonder how to spend their money. Rather than using your tax refund for an impulse purchase this year, why not plan a practical use for the money?
There are many awesome options that would allow you to invest wisely.
Down payment on a house – If you are considering purchasing a home, this could be an excellent time! Use your tax money toward a down payment on a new home. The more money you can put down, the less you will have to finance.
Pay off your credit card bills to raise your credit score – If you have high balances on your credit cards, use your tax refund to pay them off. This will do both your wallet and your credit score a favor. Remember, credit card balances should be kept at 30% or less of your maximum.
Make home improvements – Use your refund to make any home improvements that you may have been putting off. These can not only improve the value of your home but also increase the enjoyment you receive from your home.