Discovering that you’ll be getting a tax refund is certainly not the worst news you’ve had in your life. In fact, it’s easy to see a tax refund as some kind of gift from the universe. But here’s the truth: More than likely, it’s part of your paycheck that you should have been getting all along. Plan now for how you’ll manage it or it could evaporate into thin air. You have options. Choose well.
NO. 1: TREAT IT LIKE A PAYCHECK
Give away 10%, save 10% and put 80% into your household account. That’s a winning formula for all kinds of reasons. Remember it: 10-10-80.
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