Happy Monday! It’s not a phrase you typically hear with excitement, but this Monday I’m excited because my tax refund hit! And who isn’t excited to get a little boost to their bank account?! At the same time it can be a little overwhelming trying to figure out the best way to handle the additional funds you have. Here are 9 things to do with your tax refund. I hope some of these help strike some inspiration for you in determining how to spend/save your extra money in the best way possible!
Book a Trip
With a little extra money “unexpected” money in your pocket, what better time than to plan some travel?! Whether it’s a quick weekend getaway or a one-week adventure, tax refund time is the best time to reward yourself with a fabulous getaway.
Make Home Investments
If you own a home, this is the perfect time to start on a home improvement project you’ve been wanting to do for a while. If you don’t own a home, make an investment by adding some of your tax refund money to your “saving for a house” account, that’s my plan!
Pay Off Debts
This is probably the biggest one! If you have student loans, car payments, credit card debts, etc., there’s no better time to get ahead on payments than now!
Schedule a Date Night
Date nights are the best! Pick a fancy restaurant with your significant other (or best friends), get dressed up, and splurge on a fun night out on the town!
Boost Your Emergency/”Rainy Day” Fund
You never know when an unexpected expense might pop up, which always causes a lot of stress. Be proactive and set some money aside in a separate account to go specifically toward emergency, unexpected expenses. You’ll be happy you did when something pops up!
Take a Class
Are you wanting to go back to school? Or take an in person/online class in something you’re interested in? With a little extra change in your pocket, tax refund time is the perfect time to sign up for something new!
Donate to Charity
If you’re able to swing it, consider making a donation to charity. It’s always a great feeling to be able to give back, and plus it’ll give you some good karma!
Add to Your Retirement Fund
This is something a lot of 20 and 30-somethings tend to brush off, because retirement is SO far off. But in reality, it’s absolutely something you should start building as soon as possible. Even if it’s just a small amount, you should add to the fund and invest in your future.
Treat Yo’ Self
Regardless of what you’re planning to spend the bulk of your tax refund on, make sure to treat yo’ self. Whether it’s a pair of shoes, a new bag, or a trip, make sure you do something to pamper yourself. You deserve it!
Have you gotten your tax refund yet? What do you plan on doing with the money you get back?