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Ideas for Your Tax Return (Including Saving Some)

2010-05-01 02:58
Many people look forward to their tax return so they can spend up on some item of luxury like a bigger TV, that they don't truly need. Why not make your money work more efficiently for you instead? Even if your refund is only a few hundred dollars, you can still invest that amount in stocks. By denying yourself immediate pleasure, you can actually start yourself on the road to a better life. Many people who are now rich were once poor; they hauled themselves up the financial success ladder by investing every spare cent they had.

Paying off credit card debt is another good way to use your tax refund. Even if you pay off some and invest the rest, you've done a good thing financially. But don't only pay the interest; pay off the principal too. Or if you are still paying off a mortgage, then adding the tax refund to the payments is being smart.

Other things to do with your tax refund include servicing the car or increasing equity in your home by doing some kind of renovation, putting it away in a term deposit, or saving it in an electronic account with high interest. However, if you never have much fun in life, maybe you could spend some of it on a night out and create a happy memory that will rejuvenate you for the year ahead.

By finding a great rate you can make sure you earn the most and beat the standard rates. More online http://www.raboplus.com.au/term_deposits/default.aspx

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