3 Ways NOT to Spend Your Tax Refund


For those of you who are expecting a tax refund or have already received it and are looking to spend your refund, please take note. No vote on this!There are plenty of folks angling for your money and not all of them have your best interests in mind. Here are three things to stay  away from:

  1. Bad vehicle deals–especially used.  Avoid getting stuck with a bad loan and/or a lemon.
  2. Investment schemes and “easy money” opportunities. These run all year round but seem to rear their ugly heads even more so during tax season.
  3. Credit repair and deadweight debt settlement programs. While paying off debt is typically a good thing it can go wrong when your money is not actually going toward the debt. Profiteering, false promises of payments, and lots of hocus-pocus with where the debt settlement funds are going have plunged far too many people in debt. Do your due diligence before choosing to hiring a debt settlement agency.

For those of you who are not receiving a tax refund, my regrets but look at it this way: a refund usually indicates you overpaid your tax liability and gave the government an interest free loan on your money. So no refund means you kept your money for your use. Tax Day cometh so be sure to file those returns and extensions by the April 15th deadline!

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