If your tax refund has you feeling flush, consider the benefits of using it to improve your finances. You’ll have less stress, more money, and a sense of having done what’s best for yourself. Here’s my list of the top eight money-smart things to do with your refund:
- Pay off high-interest debt
- Increase your emergency savings
- Make a principal payment on your mortgage
- Make a contribution to your IRA
- Rent a Safe Deposit Box and prepay it for a year or more
- Invest in a Certificate of Deposit
- Open a Christmas Club account and feel relief that this holiday season is paid for
- Give to others
By Adam Lucas Adam Lucas holds a Finance degree and an MBA from the University of Kentucky. His work has appeared in many major outlets including Yahoo, AARP.org, and GoBankingRates.com.
Monday on the Money is a weekly commentary from Bank of the Ozarks providing financial advice and solutions important to you and your family.