Too often we as American’s think of our IRS refund as a “windfall” something we get that we didn’t earn.
The truth is, this is YOUR money that you overpaid, and the government has gotten use of it for a full year without interest.
Now, you will never find us being anti-government, this is an amazing country that we all have the privilege to live in. I’m not keen on paying more than my fair share in taxes though.
When you get back what you have overpaid, there’s a golden rule.. its your money.. invest in yourself first.
How to Use your IRS Refund:
- Pay Down Debt.
- Add to your Savings
- Add to your retirement accounts
- Invest in yourself
- Improve your home.
- If you are going to have a big year next year, apply last year’s refund to next year and avoid penalty.
- Splurge, get something you have always wanted.