It’s that time of year again. Your mailbox is filling up with 1098s, 1099s, and various other IRS documents. You know the routine. Gather all inputs, file your taxes, and then: get your refund, pay Uncle Sam, or break-even. However, if you don’t have a good handle of your monies, then this can become extremely stressful. This is why Personal Financial Planning is so important. Once you get it all sorted, you need to decide what to do with your refund. Check out this article for some ideas. 20 Smart Things to Do With Your Tax Refund (msn.com). You’d be surprised how many people just blow their refund and then wonder where it went. Others, spend it before their tax return is even filed. Don’t fall into either of these traps. Do something different this year. Challenge yourself. Manage yourself. My favorite of these recommendations is to pad your emergency fund and that’s exactly what I’m doing with my refund this year. Everyone is at different stages and has different needs. The important thing is to know where you are financially, and then make the right move for your financial future.
