Tax season is upon us and many Americans have a big incentive to
finish their tax return; a four- figure refund check coming from the
Internal Revenue Service.
You likely have an idea what you want to spend your tax refund on but
here are a few possibilities to consider.
Pay Down Your Debt
If you’re carrying credit card debt, your tax refund can help pay it
down. If your refund doesn’t cover the full amount owed, it may at
least take care of a significant amount. This will not only relieve
some of stress associated with debt, but it will also save you on
interest and help improve your credit score.
Build Up A Cushion
Life is unpredictable. It’s a good idea to have enough money saved to
cover a vehicle repair or medical emergency. If you don’t have an
“emergency fund” or “cushion” built up, use your tax refund to start
Purchase A New Car
If you’ve been thinking about buying a new car, now is the time. You
can use your tax refund to purchase a great used vehicle and avoid having to take out an auto loan. Using your tax
refund to purchase a car will get you on the road without the pressure
of a monthly car payment.
Pay Up Your Insurance
If you already have a vehicle, it may be a good idea to use your tax
refund to pay for insurance. Whether you’re making a down payment on
insurance or actually paying your insurance up for several months,
it’s always a good idea to use part of your tax refund on insurance.
If you have all your bases covered, use your tax refund to treat
yourself or your loved ones – but do so responsibly. Make sure to look
for the best deal on whatever purchase you’re planning to make so you
can save as much as possible.
If you need insurance, call your local Acceptance agent
today. With coverage for every aspect of your life and payment plans
to fit any budget, they’ll find the products that best fit your needs.