April
22,
2008
The Smart Gal's Guide to Tax Refunds
By Jihan Thompson
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? 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. By Jihan Thompson
PAY DOWN YOUR DEBT
past die bill, bill, bills, payment, fee, money
past due bill
This should go without saying but if you’re already deep in the hole, spending sprees should be the last thing on your mind. A recent poll by AP-AOL Money found that 34% of Americans have earmarked their refunds to pay bills.
SAVE
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piggy bank with money
Odds are you aren't fully prepared for unexpected expenses (your car breaks down, you need an emergency root canal). To avoid getting saddled with serious debt, beef up your emergency fund. Ask your bank about a high-yield savings account so your money makes even more money just sitting there.
DONATE
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donate can for charity
Of course nobody expects you to sign away your refund to Debt Relief in Africa. But this is the season for fundraisers. And if you're looking to network or meet singles, consider buying tickets for your favorite charity’s upcoming events. Save your receipt—charitable donations are tax-deductible so remember to write it off next year. Don't have a charity in mind? Here's one: marieclaire.com/care
SPRUCE UP YOUR WARDROBE
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woman shopping with bags
If your last real fashion investment included shoulder pads, it's time for an upgrade. Consider investing now in some key pieces that will take you into the fall. Or go ahead and splurge on some spring basics. Check out Marie Claire's picks for 100 Spring Fashion Must-Haves.
BUY A CAMERA
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girls taking photos
Seriously! Who doesn't love pictures? And according to Consumer Reports, April is the month to get the best deals on a new digital camera.
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