5 Smart Ways to Use Your Tax Return
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Even when we expect our tax returns to bring a refund, we all dread preparing for the tax deadline. If you don’t have a plan for the money when that refund check comes, it could be all to easy to spend it. Instead of succumbing to impulse, consider these five options for letting the savings you accumulated last year bring you greater financial security and peace of mind in the years to come.
1. Pay Down Debt
If you have high-interest credit card debt, putting your tax refund check towards paying it off will likely give you greater returns than any other option.
2. Fund Your Emergency Savings
Put yourself in a stronger position by putting your refund into your emergency savings account.
3. Save for Retirement
To strengthen your financial position even further, consider putting your tax refund check into a traditional or Roth IRA.
4. Invest in Real Estate
If you don’t yet own your own home, now is the time to start working toward that goal. If you’re already a mortgage holder, paying off your mortgage principal early can help you save money in interest.
5. Start a College Savings Fund
It’s never too early to start saving for your children’s tuition bills. The earlier you start, the less you’ll need to save. Compound interest and time will do much of the work for you.
Conclusion
While none of these options are glamorous, you give yourself the kind of financial security that lets you breathe easy even in times of crisis.
-Amy Fontine, Financial Journalist
Fun Facts
- February is the birth month of Abraham Lincoln, George Washington, and Babe Ruth.
- February is Black History Month.
- The first official Groundhog Day was celebrated on February 2, 1886.
Upcoming Events
- February 2 – Groundhog Day
- February 14 – Valentine’s Day
- February 20 – President’s Day
- February 29 – Leap Day
Tenant Spotlight
Sean Burrows is Managing Director of Enliven Group LLC and comes from a background in website design, interactive media consulting, web-based public relations, and search-based marketing. He is a regular guest lecturer at Westminster College’s Gore School of Business in Salt Lake City, and regularly speaks at Chamber of Commerce events, and business events around the United States. In 2005, Mr. Burrows co-founded Enliven Group, an interactive media consulting firm that managed comprehensive online marketing and public relations campaigns. Enliven Group provides services in Internet marketing, search engine optimization, website design and development, social media management, copy writing, and full website audits.
What’s New At Pyxis
Events can now be posted on our website! This allows the public and other members to view and attend any upcoming events you may have. Please contact the front desk for further details.
Service Highlight
Did you know that Pyxis Suites offers more than just office space? Here are some of the other services we offer:
- Florist
- Travel Arrangements
- Office Supplies
- Registered Agent
- Digital Advertising
- Additional Janitorial
- Call Screening
- Weekly Dry Cleaning
- Car Detailing
- Catering
Business Sense
The time is always right to do the right thing. -Martin Luther King, Jr.
