Tax refund? How to make the most of it

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By Rebecca Lubecki

1. Share, save, spend

Divide your tax return so that some goes into your savings, another portion goes to a cause your family is passionate about, and another goes toward some fun money.

 

2. Shop local

If you’re thinking of treating yourself, consider shopping local (online or in-store) and give back to your community at the same time. Take a break from cooking and pick up food from a local restaurant. Or get those new shoes from your local neighborhood boutique.

 

3. Assess your investment options

If you’re looking to invest a tax return, connect with your financial professional and see what your options are to help you get closer to your investment goals.

 

4. Tackle needed repairs

Have you put off a much-needed car or house repair because you’re not looking forward to the dent it will put in your wallet? Now may be a great time to get any needed repairs done—before damages get more costly.

 

5. Give yourself some breathing space

In addition to knocking out a chunk of debt, build up some cushion in emergency reserves, so you’ll be ready for any unexpected expenses that may pop up.