A tax refund can be a nice chunk of change no matter where you live. You could use that money to go on a shopping spree.
However, spending it all in one fell swoop or putting it toward wants might not be the smartest way to spend your tax refund.
You’re supposed to put 10% to 15% of your income toward your retirement starting when you enter the workforce.
Putting a good chunk of your tax refund money towards your debt can take your balance down and improve your credit score at the same time.
If you’re wondering what to do with your tax refund, you could contribute some money to an account you can use to save up for a down payment on a home.
A wise use of your tax refund could be purchasing better car insurance or homeowners insurance to protect yourself and your belongings.
It’s always a good idea to have at least six months’ worth of expenses saved in an emergency fund just in case you have an unexpected medical emergency.