Wealth in Words

If you are like most Americans you will be getting money back from the government this year. In some cases this tax refund can be fairly substantial. Managing the money correctly  will help give you some serious breathing room in your finances . No matter what you did with your money in the past, try picking one or a few of the options below to set yourself up for a better financial future . Pay Off Debts The first priority should be paying off any outstanding debts  as much as possible. For example, any student loan, car loan, credit card, or mortgage balance outstanding should be eliminated with some of the tax refund you get back from Uncle Sam. Additionally, focus on paying off some of the highest interest rate debt (typically, credit cards) before any lower interest rate loans. Debt accumulated on credit cards will continue to compound , but not in your favor. In other words, as your outstanding credit card balance grows so too will the amount of interest