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Top 5 Smartest and 4 Dumbest Ways to Use Your Tax Refund

With tax season here and many people expecting a tax refund, I thought it would be fun to list some of the smartest (and dumbest) ways you can spend your money.

Smartest Ways to Spend Your Tax Refund

Think of tax refunds as an easy way to improve your finances and life in one swoop.

By the way, you don’t have to use all your tax refund for building your finances, go ahead and have some fun, but don’t go overboard.

Worst Ways to Waste Your Tax Refund

Speaking of going overboard, let’s have some fun and look at some ways you can waste your money.

Loaning money to those family and friends who seem to constantly suffer an emergency (‘my bill is due tomorrow!’) and who refuse to listen to your advice about saving money (‘but I want to have fun this weekend’) will not mean you won’t see your money again, but it may also become a source of stress and resentment that you wish you never had. There are ways to help your loved ones without loaning money.

The reason I’m harping on these ‘dumb’ money moves is because I’m quite sure that you’ve worked really hard to earn your money and I’d hate to see you lose it.

If you still haven’t filed your taxes, TurboTax can help you get them done easily and accurately so you can get closer to using your tax refund wisely.

Thoughts on Tax Refunds

I shared some ideas on how you can spend your money, I’d love to get your take on it. If you’re expecting a tax refund this year, how are you planning on spending it?