Expecting a Tax Refund? Pay Yourself First!

If you missed our webinar this week on the financial impacts of the COVID-19 pandemic, the video is now available in our library here.

If you’re one of the 70-75% of Americans who will get a tax return this year you may be faced with a nice dilemma: what do I do with this money? The same question could apply to the economic stimulus check you may receive in the next few weeks.

There’s no shortage of advice on this; ranging from “splurge and treat yourself!” to “put it under your mattress.” We can all imagine plenty of things we’d like to blow a few extra bucks on, but we think you should use it to pay yourself. What does that mean? Well…

Pay yourself by paying down debt ahead of schedule, creating a rainy day fund or longer term emergency fund, or investing in your future. All of these will benefit you at some point, especially during uncertain financial times. To read more detail on each of these, read our full article here. The important thing is to make it count.