The tax-filing panic has passed for another year. Now, we play the Waiting Game (“I’m SICK of the Waiting Game! I want to play Hungry Hungry Hippos!” Homer Simpson) Anyway, if yours is the average American family, you’re likely to get about a $2,600 refund from Uncle Sam.
What to do with that money? The urge to splurge will always be there. It’s natural to want that big flat screen TV or that getaway vacation. But, how about some more… responsible ideas?
It’s The Consumerist to the rescue. They have an ongoing series of financial self-help articles with the umbrella heading “How Not to S*ck at….” And this week’s topic is spending your tax return. Here are some bullet points highlighting “How Not to S*ck at Spending Your Tax Refund.”
- Pay Down Debt
- Emergency Fund
- Boost Your Retirement Nest Egg
- Save For College
- Create a Fund For Anything (pay cash for the thing you want instead of credit.)
- Give It Away
- Make Additional Mortgage Payments
- Do Those Home Repairs