It’s tax refund season! What better way to get ahead then to use a large portion of your tax refund towards your bigger money goals. In today’s video I”m sharing 3 smart ways for you to spend your tax refund this year. I have a free guide that has 10 smart ways for you to spend your tax refund this year if you’re interested be sure to sign up below!
#1 Pay off Credit Card debt
Which cards should you pay off first? Some people recommend paying off the credit card with the highest interest first, while others recommend paying off the credit card or store card that has the lowest balance first. This way you can knock out one bill at a time and can create small wins. Since you have a larger sum of money I would recommend getting rid of the card or cards with the highest interest rate to save yourself from getting charged 16-18%.
# 2 Investing Your money
Years ago I took $1,000 from my tax refund and used it to open up a Charles Schwab brokerage account. There are tons of stocks, bonds, and mutual funds to choose from. You don’t have to be rolling in dough in order to start investing. Every little bit of money adds up. If you need help on how to choose stocks my friend Kevin has a great course for you to check out he walks you through how to choose the right stocks for you and build the perfect portfolio.
No more not knowing where to start when it comes to investing.
The step-by-step program to build financial freedom. No more wondering where to start when it comes to investing, you can start here with The Perfect Portfolio Course. It’s designed to teach new investors how to choose their own investments and test their investment ideas before spending their own money. Learn More about the course here!
How do you plan to spend your tax refund this year?