Things To Do With Your Refund

Things To Do With Your Refund

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Five things you can do with your refund.

Pay down debt. Especially high interest credit card balances and student loans.

Save some. Use the money to build up your emergency fund, or put it toward a specific goal, such as buying a house or a car.

Add to your retirement accounts. If you put $2,500 from this year's tax refund into an IRA, it would grow to $8,500 in 25 years, even at a modest 5 percent rate of return.

Update your home. Adding energy efficient appliances could save you money in the future. Also, adding items like insulation or replacing old windows could save you money monthly.

Invest in yourself. Visit somewhere on your bucket list. Do something that enriches yourself or adds value to your life. Take an art class or music lesson. These experiences can be life-changing.