5 Smart Uses for Your Tax Refund

Daniel Miller

Daniel Miller

Content Creator at Shades Shutters Blinds Blog
Daniel Miller

Latest posts by Daniel Miller (see all)

Getting a big tax refund this year from Uncle Sam? Instead of blowing it all away, why not find a smart investment choice for those extra dollars? We’ve included just a few below.

5 smart uses for your tax refund

  1. Using your refund to pay off a balance with an 18% interest rate is like earning 18% on your investments — an incredibly valuable use of the money. And if you pay off your balances, you can afford to close some cards that are now charging high fees.

  2. Many people have raided their emergency fund over the past several years and have had little extra money to restore it. You could use your refund to start rebuilding that fund, which can help you avoid landing in credit-card debt if you have an emergency. Keep the money easily accessible in a money-market account or savings account that earns interest.

  3. It’s always hard to juggle saving for college and retirement. Here’s an opportunity to use your extra money to contribute to a 529 account. You’ll be able to use the money tax-free for college bills, and you could get a state income-tax deduction for your contribution.

  4. Set aside some money for vacation rather than using your credit card and paying interest long after you have returned. Stash your refund in a separate account, then add money automatically every week. You could also set up the account for other expenses — such as a new car or holiday gifts.

  5. Invest in your home and start thinking about automating your shades or increasing your residence’s sale value by installing Plantation Shutters. Motorized Shades and Blinds make opening and closing windows as easy as the push of a button. And Shutters are a much sturdier investment than a typical window covering. Start shopping today and take advantage of our Tax Day Sale beginning Monday, April 4th!

tax refund

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