Tuesday, April 8, 2008

April 15th - Only One Week Away

Okay, hopefully when you hear the date April 15th your mind does not draw a blank. Yes, it is my in-laws' wedding anniversary, but I know that doesn't matter to you. Income Tax due date is probably more of what you are thinking of.

Hopefully, you are getting a tax refund. If not, perhaps you will at least get some cash from the economic stimulus plan.

Here are 5 ways Money Magazine suggests to use your tax rebate...
  1. Pay down high interest debt: With the stock market's prospects modest at best and credit card rates averaging 12.5%, you'll get the surest double-digit returning by trimming your plastic balances.

  2. Feed your emergency fund: In hard times, it is best to have six months of living expenses saved - just in case.

  3. Invest in your career: Make yourself indispensible by taking a class to build a skill that is in demand in your field.

  4. Make money off it: a.k.a. invest it!

  5. Splurge - a little! It's okay to have some fun, but financial planners recommend spending up to 10% of your refund and rebate.

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