Money Saving Tip #1 What to do with your Tax Refund

Invest your tax refund. The whole year the government holds on to our money. While in their possession it’s either invested or earning interest. Yet when we receive our return we pay bills or purchase an item that will not continue to make money for us (i.e clothes, vacation trips, food, etc.). Most of us have so much debt or mismanage of fund and your tax refund won’t even make a dent in what you owe. Moving forward this year we want to be more conscious of our dollar and how we are using it. Start off by investing your tax refund and using your regular earning to take care of your monthly expenses. Below are a few investment ideas:

  1. Partner with a few friends and pool your money to purchase residential or commercial property. If you are located in Florida, you can make a killing by doing this. Florida has one of the highest foreclosure rates in the US. People are renting more and more, especially college students. Make your investment home an income property and rent it out to college students.
  2. If you have children you should heavily consider opening a credit union savings account and 529 accounts. Don’t put it off until next year, that’s what happened last year.
  3. Earn a certificate degree or take a few classes that will help further your career or solidify your current position. Check your local library for computer courses that you can take at the fraction of the cost of a community college.

Let’s stop thinking short term money and long term wealth #takemyfoolishadvice




One thought on “Money Saving Tip #1 What to do with your Tax Refund

  1. Based On My Review says:

    Great Advice,
    Every year I get my return and can’t even remember what I used it for. The government gets a huge return on just holding on to our money we in turn to do the same. So this year I plan to invest half my return on something that will be beneficial to me in the long run, the other half I will get ahead of my bills. 🙂


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