10 Ways to Spend Your Tax Refund With Kids

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It does not matter how irresponsible you are by nature but when you have kids, you ought to start being more careful with money. Having a few extra mouths to feed should be a good enough reason for you not to spend your tax refund on pointless purchases. Here are 10 ways to spend your tax refund if you have kids:

1Save Up For College

it’s never too early to start saving for college

First things first, start saving up for your kid’s college tuition. Education is fairly expensive these days so you might as well start saving up sooner than later.

2Pay Off Debt

pay off debt now – so your future income isn’t lining up BIG DEBT pockets

If you are always stressed, ease off some of your burden by paying off all your debt so you and your kids can live in peace.

3Invest Your Tax Refund

Early bird gets the worm; late bird gets the ROI.

Instead of wasting money on expensive trips to the restaurants and on booze, invest your money in a new venture.

4Grow a Garden

gardening can also be a great bonding time

What could be healthier than feeding your children organic produce from your own garden?

5Adopt a Pet

it teaches responsibility!

Pets have been known to improve mood and reduce stress and anxiety. If you previously haven’t been able to afford a pet for your family, perhaps now is a good time.

6Make Your House More Energy Efficient

How long will this home improvement take again?

Invest in energy efficient doors and windows or even a new roof for better insulation. This can save you hundreds of dollars each year on electricity bills. Not to mention, your kids will be able to lead better and more comfortable lives regardless of the weather conditions.

7Improve Health

another day, another dollar. another tax refund, another iPhone

Is there a doctor’s appointment, operation or medical procedure you or your loved one has been putting off? Use your tax refund as the golden opportunity to invest in your health.

8Start a ‘Tax Refund’ Emergency Fund

A gift that does not keep on giving

It is never too late to start an emergency fund. Experts recommend having at least 3 months of living expenses tucked away somewhere in the bank or around the house.  

9Go On Vacation

Captain of the yacht

If you have a stable job and are not in debt, treat your family to a short vacation. With your hectic job and tough schedule, you probably do not even have enough time to spend with your family. Use your tax refund as the perfect opportunity to relax and rewind.

10Invest In Your Retirement

…that is, if you ever retire.

What are you going to do when your kids move out? Invest in a retirement plan to secure your future.

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