Q: I got a bigger than expected tax refund this year and I don’t want to blow it all. How can I use it responsibly?
A: You’re already making the better choice by thinking about what to do with your small fortune instead of splurging and then watching it all disappear within a few weeks.
When you receive an unexpected windfall, whether it’s from a tax refund, work bonus or a cash gift, it’s always a good idea to be proactive about how you’ll spend it instead of letting it just blow through your checking account.
Below, we’ve listed some dos and don’ts for you to consider.
Do: Pay down debt