What Will You Do With Your Tax Refund?

With tax season just around the corner, you may be thinking about what to do with your tax refund. First of all, if you set it up as a direct deposit into your bank or credit union, you’ll get your refund quicker. 

And, if you don’t have your tax refund earmarked for a new gadget, car down payment or home furnishings, you might consider using it to open a special savings account. Get a jump on saving for that special trip with family or a getaway for an anniversary of birthday.

The good thing about a savings account is that you’re adding to what you started out with. You’re growing your savings and when it comes time to decide what to do with it, who knows…you may decide just to keep on growing it!

If you don’t choose to save it, think about paying down a credit card. It’s a good way to start a new year. And it’s really another way of paying yourself in the long run.

Is your favorite niece or nephew graduating this spring? What a way to show your pride and caring by opening a savings account with your favorite credit union (First Basin). It’s a great way to get them off to a good start once they graduate and get out into the world of business. You could even add to it each year as a way to remind them you care and encourage saving.

Tax refunds can easily come and go, especially when we have a feeling of having earned it. And while that may be true to some extent, there’s really a lot to be said for wise money management. If you have questions about how to grow your savings, talk to the people who know – First Basin Credit Union  – we’re here to help.