Rethinking your Tax Return
It’s tax return season! I know what you’re thinking. You’re either bummed you owed money this year, or you’re already planning on ways to spend your tax return. Before I dive in, let’s get a few details out in the open first!
1. This isn’t free money.
WHAT!? You mean to tell me that this isn’t extra money the government wanted to gift me with because they’ve finally recognized my hard work? Nope. This is money they’ve been withholding from you that you should have received in paychecks over the course of the past year. Now you’re kind of frustrated, aren’t you?
2. But what if I owe Money?
This is the opposite problem. The government overpaid you. Oops. They didn’t take out enough taxes given the specifications of your household income and write offs (or lack thereof).
Before you decide to splurge on your “new” money- Keep in mind that it isn’t “new!” Those budgets you’ve been working hard on reflect a higher number than you received in your paycheck. If you did fine with your budget or were wondering where the extra money was- This is it!
Here are 3 Ways to Make the Best Use out of your Tax Return:
1. Make a huge payment on your student loans! Hey- If you didn’t miss the money all year long, you’ll do fine without it now.
2. Say “BUH-BYE” to your credit card debt! In a recent survey on my Insta account, more then 90% of my followers had SOME amount of debt in credit card debt. This is an easy way to get rid of it!
3. Debt free? Add the money to your savings for a down payment! Already own a house and are “living the life?” GIVE!!!! Ask God for ways to bless others with the gifts He’s given you!