What To Do With Your Tax Refund

Yahoo.com.au
If you're lucky enough to be getting a refund as part of your tax return this year, it's important not to squander the money, especially given the current economic downturn. So here are some great tips about what you can do with your refund cheque to help your personal finances in the long run.

1. Pay off debts

Let's say you're expecting a refund of around $1,000 from the tax man this year. One of the best ways you can spend this money is to put it toward your mortgage or pay off some of your credit card or car or personal loans. The more you get your debts under control, the better your financial position will be in the future. With a refund of $1,000, I would be using the bulk of it to pay off debts, although this will depend on your individual financial circumstances.
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