5 Smart Ways to Use Your Tax Refund

Disclosure: This shop has been compensated by Collective Bias, Inc. and its advertiser, Walmart Family Mobile. All opinions are mine alone. #DataAndAMovie #CollectiveBias

smart ways to use your tax refund

In August of 2015, my husband and I decided that we needed to start a strict budget. We do not carry consumer debt, but we felt we were spending money foolishly instead of investing wisely towards our own retirement and our girls’ college funds. We made a lot of cuts in our budget. My husband and I knew we needed to control impulse purchases, slash bills, and eat out at restaurants less.

One of our biggest bills we needed to slash was our phone bill. We were paying way too much each month (about $144!) for our phone plan and we needed to make a change. Instead of signing another contract and being stuck in an expensive plan, we decided to use part of our tax refund to purchase new phones with the Walmart Family Mobile Plus Plan. Our other phones were outdated and needed to be upgraded anyways, so this purchase and plan made sense for our family and for our budget.

Smart Ways to Use Your Tax Refund

My husband and I use our phones often. I use my phone for work purposes including checking email and engaging on social media. He likes to use his phone for checking email as well but he loves a certain sports forum that he spends a lot of time browsing through on a regular basis. We both love to text and call our family that live far away from us as well. We also like to watch videos and steam music and movies through our phones. And, our kids do use our phones during technology times. They like to watch creative videos on the YouTube for Kids.

Smart Ways to Use Your Tax Refund

The Walmart Family Mobile PLUS Plan gives our family everything we need to continue to enjoy the features we are looking for in a cell phone plan. Our current Walmart Family Mobile PLUS plan includes Unlimited Talk, Text, and Data, 10GB 4G LTE, plus a free VUDU new release movie rental every month ($7 value) per line for $49.88! We’ll be able to watch our new movie on our tablet each month! We chose the Samsung Galaxy Grand Prime phone with our plan and love the bigger size of the phone compared to phones we used in the past.

Smart Ways to Use Your Tax Refund

Smart Ways to Use Your Tax Refund

Disclaimer: All prices for phones and plans included in this post are accurate as of the date of posting; however, these prices are subject to change. Please refer to here or your local Walmart for current pricing.

If you are looking for smart ways to use your tax refund this season, consider the following options below.

5 Smart Ways to Use Your Tax Refund

1. Upgrade your mobile plan. Head to your local Walmart to upgrade your cell phone plan to Walmart Family Mobile PLUS Plan for only $49.88 per line + get a free VUDU new release movie rental every month!

Smart Ways to Use Your Tax Refund

2. Pay off or put your tax refund toward any consumer debt. Start with your smallest debts and work towards your larger debts.

3. Invest your tax refund into a retirement account. Set up a Roth IRA if you don’t already have one and watch your retirement savings grow over time!

4. Save for your kid’s college expenses for the future. This will help your child avoid going into thousands of dollars in debt with student loans when they graduate college and set them up for a successful future.

5. Start an emergency fund of up to $1,000. Don’t get caught off guard with heavy expenses that could make you go into more debt. Build an emergency fund of up to at least $1,000 so you’ll be ready if a major expense comes your way.

These are just a few ways to save or spend your tax return this year. Be smart and be wise this year with the extra money you get back from taxes! If you’ve completed all of the above steps, then take the kids on a nice vacation this spring!

How do you plan on spending your tax refund this year?





Yum
2 Comments

Comments

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  1. Stephanie says

    These are such great tips for tax time, especially the reminder to keep saving for retirement and college. The Walmart Family Mobile PLUS plan sounds like such a smart idea. [client]