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What to Do With That Tax Refund?

by michaelpolzella

So, you finally got something back from the government and you want to run right out and spend it. Hold on just a second; here’s what you should do with that refund:

1) Pay down credit card debt.

2) Build your nest egg (you should aim to have six month’s worth of bills in your savings).

3) Take 20% and treat yourself to something nice.

It’s certainly tempting to plan a trip or splurge on that new designer bag, but this money isn’t a bonus. It’s just excess take-home pay that you loaned to the government, so be smart.

David Clayman, Twelve Points Wealth Management

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