Tax season is over, so it's time to start planning what you'll blow your refund check on. According to a recent poll, most people are getting a refund this year . . . but 50% are planning to use it to pay off bills.
--If you're in debt, then that's definitely the right move. If you're NOT in debt, you should think about using your refund money to start an emergency savings account.
--You're supposed to set aside enough to cover six months of expenses. But a survey from last year showed that only 24% of us have that much saved up. Here are four MORE smart ways to spend your refund.
#1.) Pay for Something Upfront. Some insurance companies, daycares, and gyms offer a discount if you pay upfront instead of once a month, which saves you money in the long run.
#2.) Save It for Christmas Presents. We're still eight months out, but you can get a lot of deals if you start buying early. And if you hang on to your refund money, you'll have cash on hand when there's a deal that's too good to pass up.
#3.) Home Improvements. Spend your refund on things that either increase the value of your home, or save you money . . . like energy efficient windows, doors, or appliances.
#4.) Family Memberships. Buy yearly passes to a museum or the zoo, and your kids will have something to do for the rest of the year.