TAX REFUNDS NOW IN! Time to Make it Rain?

What You Need To Know:

1. Caesar has given back unto you. (unless you didn't file your taxes, YOU CRIMINAL)

2. The World is now YOURS! at least about $1,000 of it (if you're the average college student)

3. The Hammer went Broke.

Here's what to FIRST pay attention to before making it rain with your tax refund.

As our FOXY friends suggest.

1) Have you paid off the balances on your credit card(s)?

If you answered no, I can’t emphasize this enough: use your refund to pay off as much of that debt as possible; this is by far the best financial investment you can make. If your card interest rate is 12%, you are in essence guaranteeing a 12% return on your investment. As lame and boring as it might seem to use your refund for this, do it. Now. You’ll be much better off financially.

2) Do you have at least three months of living expenses tucked away?

Experts recommend having three to six months worth of living expenses in liquid savings to cover “just-in-case” issues like a major car repair, a medical problem or an unexpected job loss. This “emergency” or “rainy day” fund will protect you from unexpected financial issues. So if you answered no, dump that refund into your savings or money-market account and build up your emergency fund–the peace of mind is worth missing out on the shopping spree.

3) Have you saved enough for your short-term goals?

Are you planning on taking a vacation this year, or do you plan on blowing it out for the holidays? If you are planning something and you answered “no,” then dump your refund into an account specifically dedicated to an annual vacation or holiday fund. This will make sure you don’t have to go into debt to go to the beach or buy presents.

4) Have you given to your favorite worthy cause?

If you answered “yes” to all of the previous questions, then you are in great financial shape and now is a great time to think about making a donation to a worthy cause that matters to you. I can promise you that the organization you choose to support will be extremely grateful. And the satisfaction of knowing that you’re making a difference will bring you great happiness—and what can be better than that?

Where are YOU spending your check? If it's a charity, I'll match it!

HAPPY EASTER

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