BENGALURU: That fat refund check might seem like found money, but it is actually your money. Don’t get caught treating your refund check any differently than you’d treat your weekly or monthly paycheck or if you own a small business, revenue from your customers, according to moneycrashers.com.

Pay Down That Credit Card Balance:

Financial experts universally rank paying down expensive debt at the top of the list of “smart tax-refund spending ideas.” And guess where you’re likely keeping your most costly debt? That’s right: It is generated by that tiny piece of high-rate plastic in your wallet. By using proceeds from your tax refundto pay off that debt, you’re reducing your interest. If you think it’s smarter to put money into the stock market, you’ll need to earn 15percent to 20 -percent annually.

Spend on yourself or your family:

When spending for yourself, nothing can be better than spending to upgrade your skill sets. You could spend the tax refund to take up a part time course or workshop related to your field of work. This indirectly, helps to increase your employability and thus your salary potential. In case you have childrens, you could spend that refund to sign them up for a course and help them to learn a new skill.

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