Getting a Cash Advance
It’s April, the time of the year where people are anxiously awaiting their tax returns, assuming you are getting a tax return this year. I’m sure most people already have some idea of how they are going to spend this generous sum of money perhaps on that long awaited trip or LED t.v. The average tax return for Americans in 2011 is around $3000.00 dollars and while most of you might be tempted to go out and spend it all on a large purchase, consider some of these other options before making your final decision. While there is nothing wrong a little guilty pleasures you may find there are some better uses for your money (especially is this economy).
The first and most important thing to consider if you do not already have one is to start an emergency fund. Most people only have enough money in their bank account to last them for two weeks. We hear a lot of people going into massive debt from not having any emergency savings, consider what you would do if you suddenly had to deal with a emergency situation that required you to pay a debt. This may lead to having to take out a cash advance in order to pay for unexpected emergencies. Which leads me to my next tip.
Repay your debt. Use the money to pay off any high interest cards or cash loans you may have taken out. This is a great way to use your income tax return. Who wants credit debt looming over your head, pay as much as you can, or pay it off completely and get a fresh new start to your financial life.
Invest in yourself. What could be better than doing something important for your own well being. If you have been thinking about that interior design course or perhaps taking some extra classes at your local college to brush up on your computer skills, this is a great opportunity to do so. Spending money on self improvement is always a valuable thing and advancing your skills and marketability could you that edge you have been looking for in today’s tough job market. If that’s not what you’re looking for, why not head over to your local gym and buy yourself a membership, not only will you feel better but you’ll look better and you will also spend less money on medical bills in the future.
Use it for home repairs. Putting money into home repairs or upgrades can also be a great investment that will pay off in the future when you sell your home. Having a nice home with upgraded features could make a difference of thousands of dollars in your final sale.
And last but not least if you don’t need any of the above, it’s safe to say you can treat yourself to whatever fancies you would like. Head on a shopping spree or treat yourself to a well deserved (discounted Of course) luxury vacation, there are tons of deals on line these days from discounted cruises to flights and hotels.