You’ve paid your debt to Uncle Sam all year, so if you get a little cash back as a tax refund, be sure to make the most of it.
The average tax refund is right around $2,900 according to IRS reports. If recent trends continue, that number could go even higher this year. That kind of money can help give you a serious jump-start on securing your financial future.
One of the best things you can do with that refund check is pay off some debt.
The minimum payment you make on your credit card may seem like no big deal. But over time, the money you spend financing your debt, especially if you have an interest rate of 15 percent or higher, can double or even triple the cost of every item you buy on plastic.
“Your tax refund is an opportunity to make headway on your credit card debt,” says Jerry Love, president and chief executive of Davis Kinard & Co., an accounting and audit firm in Abilene, Texas. “Do you really want to be paying for yesterday’s lunch for the next 18 years?”
So if you want to get a head start on paying off your debts, give us a call today and get a free, no obligation quote on how you can eliminate your debts in 12-36 months. But starting a program now you will get an awesome head start.