It seems people are in either one of the two tax camps: those that have their taxes done by January 31st and then there are those who are barely scraping by on April 15th.
No matter what your tax filing style is, if you’re getting a tax refund back this year here are 5 of the very best ways to maximize it.
Are you getting a refund and if so, what are you doing with it?
The 5 Best Ways to Maximize Your Tax Refund 1 of 6Click through to see them all!
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1. Take a Vacation 2 of 6Yes, seriously. Take a vacation. If you're burnt out and not enjoying life you're not going to be able to make the best decisions in your everyday life. Use your tax refund to recuperate, relax, and get a little enjoyment out of life. It's not all about working non-stop.
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2. Pay off Your Debt 3 of 6Depending on the size of your refund, pay off an entire credit or another big bill that has been looming overhead.
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3. Get a Jump-Start on Your Debt 4 of 6If paying off all your debt isn't possible then do the next best thing: pay off a large chunk of it. By paying off a large amount of debt you'll be able to get a jolt of motivation that will hopefully help you to continue to pay off even more debt in upcoming months!
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4. Repair Your Home 5 of 6By keeping your home in top shape you will avoid even costlier repairs down the road. If you've got all the repairs fixed then see if you might be able to do some updating. Try to only do updates that could pay off if you decide to sell down the road. Make the most of your upgrading decisions by choosing wisely.
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5. Make a Large HOA Fee Payment 6 of 6If you live in a condo or rather than having that HOA (Homeowners Association) fee crop up every month pay a few months at a time so your funds are freed up month-to-month.
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