Sensible ways to use that extra dough.
This year you may want to try a more substantial and safe way to use the money you get back. Here are some options to consider.
Get going on your emergency fund: Maybe you thought the idea of a rainy day fund was out of reach, but every penny counts when it comes to an unexpected situation.
Pay down your credit card debt: Credit cards can be your friends or your enemies. If you’re not on such happy terms, consider using your rebate to pay them down. Paying interest on the money you owe isn’t doing you any favors. Even better, transfer balances to cards with rates of 0, 1 or 2 percent if you can and concentrate on paying them off entirely while those low rates last.
Invest in your potential: Maybe you’re looking to pump up your resume or stay on track with new technology. Consider using the extra cash for education. Many universities across the country offer extension programs with courses for professional development in the evenings and at other convenient times. You also could look into classes offered through community colleges and accredited online degree programs.
Give your car some TLC: Take care of important car maintenance. Are you approaching the time for a 30,000-mile full service for your vehicle? If so, why not get that behind you? There are additional safeguards to consider. Change your windshield wiper blades, have your battery checked (or replaced if it’s been over 3 years), and have your belts and hoses examined for wear and tear. You’ll be happy you did it when you’re cruising without trouble.
Make a worthwhile purchase: Hold off on the flat screen and consider buying an energy-efficient appliance, especially if you’re now relying on older, less-efficient appliances. Plus if you buy something like a high-efficiency washing machine, you’ll be pleasantly surprised by the reduction in your utility bills and the discounts and rebates that likely will apply to your purchase.
Help out others: Do your part to combat poverty, help stock a food bank, or choose another charity close to your heart and give back. There’s also a site, Kiva.org, which helps you provide microloans in amounts as low as $25 to worthy entrepreneurs in poor countries.
Source: msnbc.com