What should people in Austin do with their tax refund? Take a vacation and buy a new iPhone, of course.
Sorry, only kidding!
According to the Money Coach at Capital Budget Strategies, LLC, taxpayers in Austin, or anywhere else for that matter, should use their refund to improve their financial stability.
In order of importance, here is a checklist for spending your 2017 tax refund:
(1) Build a $1,000 Emergency Fund.
(2) Pay off credit card debt, school loans or personal loans.
(3) Start a 5 month Emergency Fund.
(5) Pay down mortgage.
(6) If you have no debt and have built a 5-month Emergency Fund, then invest your money in a Roth IRA.
If you have completed steps 1 – 6, then take a vacation or upgrade your iPhone!
You know what you are doing!
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