Top 5 things to do with your tax refund

I personally am not a huge fan of getting a tax refund. LET ME EXPLAIN before you start thinking I am crazy...

I'd rather have the RIGHT amount of taxes taken out each month. That way I have a little bit more money to work with on a monthly basis instead of getting a big check at one time and trying to do something super productive with it.

here's the top 5 things you can do with your tax refund.

1. Pay off debt. Duh. Obviously THIS should come first. If you have debt, use this money to pay it off.

2. If you do NOT have debt then KUDOS to you :) But this would be a great way to start your emergency fund. No matter how big or small the check is--this is the perfect way to jump start your emergency fund. This is always a hard step for people... putting back that money every month is hard for a lot of people especially when it's just 20 bucks here, 15 there, etc. SO, by putting your tax refund in savings you can see a nice chunk which makes it easier to put more money back. (It's a mental thing...trust me.)

3. If you have no debt, plus your emergency fund you could always begin the 3 months worth of bills savings account. This would be your NEXT step on your financial journey and your debt free life.

4. Let's say you have ALL of these steps completed or MOSTLY completed... maybe this would be the perfect time to take your family on a vacation, or a weekend trip with the hubs, OR, just MAYBE you have worked really hard to get your self into a financially free situation and you deserve a spa day and a new outfit. :) I'm ALL for rewarding myself for good behavior!

5. Lastly... maybe this would be a good time to get a jump start on NEXT years taxes. Use this money for donation purposes, for tithing, for giving to charity--anything that would give you a jump on next years taxes and give you a nice break.

there ya go--the top 5 things to do with your tax refund.

And if you OWE money on your taxes, well, that will be another post :)