Tax Refund Burning a Hole in Your Pocket?

Money In PocketTax refund starting to burn a hole in your pocket?

It’s tempting, isn’t it.  You know, every year millions and millions of people file their taxes, cash their refund checks (or withdraw the cash from the bank when it arrives in the account), and spend it within a matter of days.

It seems as if there’s always a project that they want to do at home, or something that they just can’t live without, or even somewhere they can’t just NOT go.  Whether you’re tempted by new laminate flooring, a new car, or even that trip to the beach for spring break, don’t spend ALL of your tax refund so quickly this year.  Instead, why not set aside a portion of it for that emergency fund you’ve been meaning to start?

That’s right, SAVE part of your tax refund this year.

It took you ALL year to pay the taxes that resulted in the refund, so why not keep it a little bit longer than it’ll take you to get to the nearest home improvement, electronics, or automobile store?  Maybe you can rent a cheaper condo or hotel room on spring break?  Surely, there is some way that you can hang on to a portion of that tax refund?

Let’s face it, for some of us, that’s the single largest lump sum amount that we see all year, and it’s likely impossible that we’d be able to save that amount as easily as we get it once we file those taxes.  So, for once, why not think ahead.  Sit down with your checkbook, savings account, and budget, and really think before you spend.  Even if it’s only 10% or 25% of your tax refund, SAVE IT.

Put it in your savings account.  Draw it out of the bank in cash.  Do whatever you need to do so that you don’t spend it frivolously this one time.  I promise you, once you manage to save just a portion of it, just one time, every year you will strive to save a little more.  Don’t believe me?  Why not try it this year.

The Best Way to Use Your Tax Refund this Year!

Wondering where your tax refund will do the most good this year?

If your credit is less than perfect, tax time is the best time to get back on track with your credit score! Not only do you have the funds from your tax refund to work with, but you can use those funds to start building up a good payment history and still buy that new television, take that vacation, or whatever else you thought about using that money for!

How can you use your tax refund to improve your credit score and still have funds to do something else?

It’s actually pretty simple, but it’s a very SMART way to use your refund! Instead of spending the cash on something, take your lump sum refund dollars and use them to open a secured credit card, like the The First Progress Platinum Elite MasterCard® Secured Credit Card . All you have to do is open the account, use your refund to make the security deposit you select, and then use the credit card to buy that new TV, take the vacation, etc.! In turn, as you make payments on the credit card, The First Progress Platinum Elite MasterCard® Secured Credit Card will report your good payment history to all three credit bureaus every month… Give it a few months and watch your credit score start to improve! It really is that easy – so why not take the first step to improving your credit score today?

The Best Way to Use Your Tax Refund

Got a little extra cash left over from your tax refund?  Why not take just a little bit of your tax refund and use it to get your credit back on track?  Believe it or not, it doesn’t cost a small fortune to start rebuilding your credit and, even better, it’s not nearly as hard as you think.

If your credit is less than perfect or even if you don’t have any credit, you can start improving your score today… and it is as simple as using a little of your tax refund to get a secured credit card.

Unlike prepaid cards, a secured credit card actually is a real credit card. Typically once you’ve proven your creditworthiness, many of these credit cards will refund the initial security deposit and convert your account into an unsecured credit card account.  Even better, some secured credit cards actually have really good interest rates on the purchases that you do make.

And, as if that’s not good enough all by itself – here’s the real reason you want a secured credit card:

Most secured credit card companies report to at least one of the major credit bureaus and that is what really matters when it comes to getting a fresh start on your credit… you’ll actually be building up your credit score just by using your new credit card wisely.  

All it takes is a small deposit on a secured credit card – so, go ahead, use just a little bit of this year’s tax refund to get a fresh start on your credit!  Trust me, it will be worth it in the long run. Here is just ONE of the many secured credit cards available to you: