Things You'll Need:
- planning
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Step 1
Pay down high interest bills with your IRS Federal Income Tax rebate check. By doing so you'll be able to save more money throughout the year. For any bills you pay off, apply their payment to the next highest interest bill. This way you will be accelerating its payoff too. Keep doing this when a bill is paid off and you can reduce the time your in debt by almost one half. This applies to your home and auto also.
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Step 2
Invest in yourself with your Federal Income Tax rebate check and you could be on your way to a better paying job for next year. Check out your local community college and online schools. Make sure they are accredited institutes of higher learning.
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Step 3
Start or build a savings account. Most financial advisors recommend you have at least 3 months salary saved in case of emergency. You Federal Income Tax rebate check will make a huge dent in that goal.
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Step 4
Catch up your 401k or IRA. If you haven't been investing at least 10% of your income or you got started late, catch it up with your tax rebate check. Check with your financial institution or representative from your job to find out the maximum you will be eligible to contribute in one year.
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Step 5
Your home is one of your most important investments. If there's serious work or improvements that need to be made now is the time to do it. To make your money stretch further try doing most of the work yourself. Most home improvement centers have Do-It-Yourself help.
Comments
YFNMOM said
on 3/6/2009 Great article. Will have to put these into practice next year.