聪明地使用退税

Despite the predictable nature of federal tax filing season, an unexpected tax refund can ignite surprising financial behaviors in taxpayers. A sudden windfall can tempt even the most frugal-minded individuals to spend the entire amount on lottery tickets or an unnecessary shopping spree. There’s nothing wrong with a splurge or two, but consider using most of it in a way that’ll benefit you long after the last dollar is spent.

这里有一些建议.

Catch Up on 首页 Maintenance and Repairs

Spending your tax refund on delayed home maintenance and repairs can prevent costly emergency calls. Hire a professional for specialized tasks such as trimming overgrown trees or performing electrical repairs. You might be one strong wind gust or storm away from a significant expense. Tree limbs surrounding your home can snap, 对你的屋顶造成严重损坏, 停在车道上的车, 甚至是你邻居的财产.

闪烁的灯光, 灯泡很快就会烧坏, and dead outlets could be signs of an underlying electrical problem. Ignoring these issues could prove harmful. Contact a qualified professional to ensure the safety of your home. 投资 in service repairs now is a smart financial move.

Give Your Individual Retirement Account a Boost

An extra deposit into your retirement savings plan can offer significant returns. The more money in your account, the more you can experience the benefits of compounding interest. Contact your employer’s retirement plan administrator to learn how you can make deposits separate from your paycheck.

If you’re at or near the annual contribution limits of your employer’s plan, 考虑开一个罗斯个人退休账户. This tax-advantaged account can help you meet your retirement and future college savings 目标s.

启动一个紧急基金账户

If you lost your job tomorrow, how would you pay your bills? A six-month emergency savings fund account could keep you afloat while you look for another job. 根据 劳工统计局, it’ll take approximately five months to secure your next position.

Figure the savings 目标 for your account by multiplying your total monthly household expenses by six. Depending on your income, it can take years to fund your account. But, using half of your tax refund to open a savings account could shave months off your timeline. Continue making regular deposits to build the safety net needed to avoid turning to high-interest rate credit cards to pay your bills.

提高你的工作技能

Invest your refund check in skills development training. Completing a short Certificate program could help advance your career and increase your income without working additional hours. Employees with specialized skills also stand out in a competitive job market.

Short courses can help you develop marketable skills such as computer programming, 项目管理, and business Spanish with many costing less than $500 per certification.

清偿债务

Credit cards, student loans, and other debts can keep you from reaching your financial 目标s. Paying the minimum required payment each month can keep you in the debt cycle for years. Use at least half of your refund to reduce or eliminate the debt with the highest interest rate. The less you pay in interest, the more money you’ll have available to save for the future.

我们可以帮忙

Your 目标s and financial priorities should guide your decision on how to spend your tax refund. If you need additional time to weigh your options, deposit your refund in a Credit Union of Colorado Money Market Plus 记账并看着它增长*. This account pays a tiered interest rate based on your account balance, allowing you to reach your financial 目标s sooner. The more you deposit, the higher the dividend rate. 今天开个账户!

A Credit Union of Colorado Roth IRA has a minimum opening deposit of just $5, so it’s easy to get started on your retirement savings. 了解更多关于个人退休账户的投资选择.

* Money Market Plus account has a $2,500 minimum opening balance. Higher dividend rates are associated with higher minimum balance requirements. Annual percentage yield (APY) is subject to change.