Got your taxes done without having to file for an extension? Congratulations. That’s a great feeling.
Now you’re kicking back and waiting on the refund. Good for you. Here’s a few things to think about when trying to decide what to do with the money.
Do you have an emergency fund in place? That’s three to six months of living expenses set aside in a liquid account, ready for access at a moment’s notice. A true emergency. That way you won’t have to go to the credit cards when the car needs new tires, the refrigerator dies, or the roof leaks. A weekend in Vegas or a Cancun cruise is not an emergency.