• Give a Gift
  • Customer Service
  • Promotions
  • Videos
  • Blogs
  • Win
  • Games

5 Smart Ways to Spend Your Tax Refund

Posted in:

5 Smart Ways to Spend Your Tax Refund

Share

It’s beginning to feel a lot like Christmas. Now that most Americans have filed their tax returns—an estimated 10 million applied for extensions—the wait is on for the much-anticipated refund checks. piggy bank This year the IRS says the average tax refund is $2,464. Those checks will soon be followed by an “economic stimulus check” of between $300 and $1200, depending on whether you’ve got a family. The Federal government (and retailers) hope your newfound feelings of prosperity will translate into a trip to the local mall where you’ll pump your cash right back into the moribund economy.

Before you blow your cash on car payments or flat screens, it’s worth honestly considering your financial situation before making any decisions. Of course, all the experts advise asking yourself fundamental questions like what are your credit card balances in total (be sure to include those store-issued cards from your favorites, like Old Navy and Target). Got anything socked away for a rainy day?

Important questions, to be sure. But working gals would do well to also ask themselves when they last updated their wardrobes. This might be an ideal time to buy those so-called investment pieces (a good trenchcoat, a well-tailored business suit). Also consider your savings goals—are you looking to put a down payment on a condo in the next few years? Are you perennially putting off plans for an exotic vacation because you don’t have the cash?

Remember, it doesn’t have to be all or nothing. You can pay back a little, save a little and spend a little on yourself, too. You deserve it. Smart gals would do well to consider these suggestions for spending your forthcoming tax refund.

Share
Connect with Marie Claire:
Advertisement
horoscopes
daily giveaway
One winner will receive year's supply of makeup products from Dior and a year's supply of hair products from Tresemmé as selected by the Sponsor. A total prize package of 485!

One winner will receive year's supply of makeup products from Dior and a year's supply of hair products from Tresemmé as selected by the Sponsor. A total prize package of 485!

enter now
You Know You Want More
Special Offer
Link Your Marie Claire Account to Facebook
Welcome!

Marie Claire already has an account with this email address. Link your account to use Facebook to sign in to Marie Claire. To insure we protect your account, please fill in your password below.

Forgot Password?

Thanks for Joining

Your information has been saved and an account has been created for you giving you full access to everything marieclaire.com and Hearst Digital Media Network have to offer. To change your username and/or password or complete your profile, click here.

Continue
Your accounts are now linked

You now have full access to everything Marie Claire and Hearst Digital Media Network have to offer. To change your settings or profile, click here.

Continue