When I was in middle school, Easter meant two things: Vacation time to praise Jesus and that everyone got new Nike Air Force Ones. As I grew older, I started understanding why parents were splurging buying their kids new sneakers and paying off the remaining balance on their lay-a-way plans: IT WAS INCOME TAX SEASON!
The refund-lawds are upon us and many people are about to shop until they drop. Personally, I cannot wait until I get my tax return, but let’s not get too ahead of ourselves. We must be wise with our money and make sure it lasts until the summer time; don’t you want to have funds to be at La Marina all summer chillin’ with Drake and Romeo? Maybe not, but here are five suggestions for you in regards to your refund:
- Pay off your credit card balance: or at least as much as you can, credit cards are the devil. It is a dismal feeling to work forty hours a week only to have that money all go to expenses. Start being responsible, pay off the entire balance or as much as you can and free your self from the chains of interest fees.
- Take a vacation: I know you’re thinking Dominican Republic, but I cannot suggest that my friends, sorry. I want you to have fun but be responsible. Go somewhere within the United States, visit a landmark, stay in an economical hotel and learn something new. It’s still getting away from your immediate surroundings without spending your entire refund. Think smart!
- Treat yourself: the key to treating yourself is that it is a once in a blue. Don’t treat yourself all weekend long. Go to a spa one day and enjoy that moment in time. Save up the rest of your money.
- Buy a stock: some of us are going to just spend our money regardless if I continue to suggest saving. If you are going to splurge why not do a little research before hand and buy a stock? Invest $50.00 and you might get lucky and get a huge ROI and then be able to splurge more (or save more)!
- Take your guardian on a date: while money makes everything seem better your parents deserve some appreciation too. Money comes and goes but memories are forever. Do something cute and work on a bond that money cannot buy.
For me, there is no such thing as being poor just lack of education in regards to money management. This tax season, whether or not you decide to take my suggestions, be sure to educate yourself and learn how to make money work for you. Instant gratification only lasts for a moment, proper money management can last a lifetime.