Tax season is in full swing. For many, that means an influx of cash and endless options on how to spend it. According to CNET, after the 2023 season, 77% of Floridian tax filers received refunds. And, the average tax refund was more than $4,300.
Wondering how you can get the most bang for your buck?
Here are four great ways to use your tax refund this season.
Buy a Certificate of Deposit (CD)
A Certificate of Deposit is a savings account that holds money for a set period that can last from as little as 3 months all the way to 5 years. During that time, a bank or credit union pays a set interest rate on it. Because the interest rate is predetermined, and locked in, it is one of the best ways for a guaranteed return on investment.
Who should buy a CD? Those looking to save money, protect their wealth, or maintain disciplined spending. CDs are relatively easy to manage, but you should discuss the option with a financial expert to ensure it’s the right choice. Fortunately, Achieva offers a range of CD options that can fit your needs.
Visit AchievaCU.com or call 727.431.7680 to talk to a wealth management professional on how to make the best decision for you and your family.
Invest in Yourself and Your Career
Today’s job market can be a dizzying maze of resumes, cover letters, networking, and artificial intelligence – all just to land an interview. Whether you’re newly unemployed or looking to make a shift in careers, there’s a good chance the landscape has transformed since the last time you needed a job.
Great networking and a winning resume are your best bets for landing your next gig. But, if you’re not particularly skilled in creating a resume and cover letter, or could use some help navigating a new networking landscape, hiring a professional is most certainly in your best interest.
From Tax Refund to Early College Fund
Are you a parent or a grandparent looking to secure your family’s future? You can use your tax refund to open a college fund like the Florida 529 Savings Plan. It can be an absolute gamechanger.
College is expensive. Most graduates cite the financial burden from pursuing higher education as a leading factor in hindering their financial goals. How can you point them to the path of success?
You equip them with a college fund and teach them how to budget it.
Do Something Nice For Yourself
Tax refunds don’t have to be “all work and no play.”
Is there a trip you’d like to take? A high-dollar item you haven’t purchased? Do you want to learn a new skill but need more money to make it happen?
Now might be the time to take the next step.
After all, pouring into yourself is as good of an investment as any other.
Need more financial content? Continue following the Achieva Life Blog for additional money-saving articles.
