Just a reminder if you’re getting a huge tax refund double check why.
It could be that your withholding way too much on your paychecks. While we all love having a nice big lump sum, it would be better for you to have that money in your paychecks sooner rather than later.
If you’re looking for other ways to save and build some wealth look at your 401(k) especially if your employer offers a match.
Not only will investing feed your retirement fund, it will lower your taxable income now – double win!
And if you need help with your 401k, please check out blooom. They’re an incredible service for less than the cost of Netflix.
They can manage your 401(k) based on yur needs, help minimize needless fees, and you have access to a certified financial planner if needed.
Oh, and while I do want you to be smart with your money, don’t be afraid to celebrate and have some fun.
Talk it over and see if you can set aside 10-20% of your refund towards a vacation or something that you guys have been saving up for.
Thoughts on Tax Refund Plans
I’d love to hear from you about your plans. How many of you have received or are expecting a refund this year? What are your plans for it?
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Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..