Make a plan for your taxes before it comes!

You need to make a plan for your refund BEFORE it comes!! It’s so exciting, it’s tax refund time!! But it will serve you well to relax and create a plan so you don’t blow it.

Consider dividing it into three parts (equal or not, your choice) to tackle some to the past, present and future.

Past- Put a portion to debt. Either concentrate on highest interest rate debt or if you have a low balance loan that free up a significant monthly payment. So let’s say you owe $500 on a credit card that is at 25.99%, get rid of it! That card is not your friend at all. Or maybe you owe $1,000 on a loan that if you pay it off, will eliminate a payment of $230 and make it easier to live month-to-month.

Present- Put some toward some current bills, or something you have been putting off such as getting tires for your car. Maybe your kids need some new clothes or an unexpected bill just happens to show up (doesn’t it always when you get some extra money, lol?)

Future- Definitely put some in your savings! Regardless of how much debt you have. We spend savings wiser than credit. We spend 26% more on a credit or debt card because it doesn’t feel like money. Having some funds in an emergency fund will help you sleep better at night knowing you can tackle an unexpected event. You could also kickstart a holiday savings fund or vacation fund if your emergency fund is already set.

I hope this helps if you were struggling with a plan for your tax refund. It also gives you permission to meet a few goals at once and I always believe there needs to be a balance to life.

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Lots of Love,


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