{"id":1776,"date":"2023-04-17T18:50:18","date_gmt":"2023-04-17T18:50:18","guid":{"rendered":"https:\/\/www.sprucemoney.com\/resource-center\/?p=1776"},"modified":"2024-11-22T00:35:39","modified_gmt":"2024-11-22T00:35:39","slug":"5-steps-to-put-your-tax-refund-to-good-use","status":"publish","type":"post","link":"https:\/\/www.sprucemoney.com\/resource-center\/spending\/5-steps-to-put-your-tax-refund-to-good-use\/","title":{"rendered":"5 Steps to put your tax refund to good use"},"content":{"rendered":"\n

Tax season is coming to a close, which means many will soon have refunds, if not already. We talk a lot about taxes \u2014 how to file them, how to minimize them and how to plan for them, but another really important part of tax planning is making the best use of your refund. <\/p>\n\n\n

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The Fiscal Femme<\/a> (Guest Author)<\/figcaption><\/figure>\n<\/div>\n\n\n

Why? Because it\u2019s a great opportunity to make progress towards your financial goals, which may include setting your budget up for success, or even treating yourself.<\/p>\n\n\n\n

If you\u2019ve filed and know exactly how much you\u2019re getting back, here\u2019s a step-by-step recommendation for making the most of your tax refund. <\/p>\n\n\n\n

Step 1: Plan in advance. <\/strong><\/h3>\n\n\n\n

If we wait until the money hits our account to make a plan for our tax refund, there\u2019s a high likelihood it will be spent without purpose. I see it all the time (and I\u2019ve experienced it, too!). We spend a little extra here or there, and next thing you know, the money is gone or there\u2019s a lot less of it left to work with. <\/p>\n\n\n\n

Having a plan before<\/em> the money hits our account makes it a lot more likely to go where we want, in the amount we planned for. <\/p>\n\n\n\n

Also, with Spruce<\/a> you can get your federal tax refund up to five days early,