It’s that glorious time of year again. The days are getting longer, summer is getting closer and a long-awaited sum of money just made its way back into your bank account. Before you splurge, here are the top five ways to spend your tax returns.
With Spring Break around the corner, it is important to save so that you don’t break the bank during your week of freedom. If your funds are a little lacking this year, use your tax return to finance a much-needed week away from school. Whether you’re vacationing or spending time at home, you’ll be thankful for the extra cash.
Start an Emergency Fund
There’s nothing wrong with saving money, especially when it comes to the uncertainties of college life. Set your tax return aside in an emergency fund for when you really need it. The extra money will come in handy the next time you get an unexpected drinking ticket.
Tackle Some Bills
With the freedom of college life unfortunately comes more responsibility. Having to pay bills is no exception. Instead of scrounging around for money next month, use your tax return to get ahead on your bills. When next month rolls around and you’re already paid up, you’ll be thankful that you did.
Save for Summer
We all know how expensive those summer months can be, especially for all those students who are graduating in May and still don’t have a job lined up. Your tax return will definitely come in handy during this time. Use the additional money to help support yourself until you land that dream job.
Spend it on Someone You Love
It’s not uncommon to want to buy something for your special someone, but you may lack the funds to do so. Here’s your chance. Use a portion of your tax return to show your appreciation, and surprise that special someone with a present.