Tax Time

Only one week remains before the dreaded due date for taxes. I assume most already have them done - If you haven't finished them yet I suggest you get on the stick!

For those of you that are in for a big tax return I have a few suggestions on how to maximize you money rather than racing down to your nearest auto dealer like so many of them advertise.

1. Buy yourself something. I know, gasp! I said it, buy yourself something. I suggest that you spend no more than 40% of your tax return and get you and your family something nice. We all have those needs/wants that are a little large and just don't fall into the budget. Here is the perfect opportunity to satisfy one.
2. Give a little. Like always I say a minimum of 10%. If you don't really have anything you want/need you would be wise to increase your giving. The good news is that our current economy makes it so you don't have to look very far to find opportunities to give to those less fortunate.
3. Invest. You have 50% of your refund left for this. Bottom line your number one investment goal is to make sure you and your family have a minimum of 3-6 months living expenses set aside for a rainy day. If you don't have that yet put it there. If you have a strong emergency fund there are a number of options to look into, of which I am not going to tell you what to do as you know better than I what your long term goal and objectives are. Just please don't put it under your pillow or in a low yielding savings account, which is almost as bad.