How to Spend Your Tax Return

(Not mine, btw)

Now that you’ve probably received your refund check in the mail or even direct deposited, here’s how you can spend your tax return from a Bankrate article. Hopefully you haven’t spent it already!

1. Pay down credit card debt.

2. Open an IRA (I recommend a Roth IRA unless you don’t qualify).

3. Take stock (I’m not too sure about this one. I recommend that you don’t invest in the stock market unless you have at least basic knowledge of how it works).

4. Set up a rainy day fund.(In other words, an emergency fund. I would probably put this higher than number 4, though).

5. Refinance your house (They’re saying use part of the refund to pay the closing costs of refinancing. I don’t think you should refinance unless you’re going to save at least

6. Add to your mortgage payment (A great idea!).

7. Spruce up the homestead (They’re talking about some do-it-yourself landscaping or remodeling).

8. Auto details, details, details (They’re talking about detailing your car, if you’re planning on selling it soon. I think it’s a good idea only if you’re planning on selling, though).

9. Service your car (They’re saying most people don’t maintain their cars. That’s true, but why wait to maintain them? It will cost you less to keep a well-maintained car).

10. Get the star treatment (In other words, splurge a little. Don’t go crazy now, but you deserve a little splurging once in a while).