Spend That Tax Refund Wisely

You’ve checked the mail for days, just hoping to see that envelope from Uncle Sam himself. And finally, it arrives. Your tax refund is finally here and you can’t wait to spend it on something – anything. But before you head to Amazon and start clicking away, you may want to consider using that money to pay off outstanding debts.
On the FreeScore.com blog, the Good Score Guys from FreeScore’s popular TV commercials suggest using your tax refund to pay off debt. While it may not sound nearly as fun, putting your tax refund toward paying off credit card, student loans or other debts can be infinitely more beneficial to your financial well-being than buying the latest electronics. Not only can this help you break bad spending habits, but it can also show credit issuers and agencies how responsible you are. Even if you don’t realize it, companies access your credit scores all the time to see if you’re a good candidate for credit cards and other forms of credit.
If you want to see what those companies see when they check your credit, visit Freescore.com. Once you’re there, you can view your credit scores and information from all three major credit bureaus – TransUnion, Equifax and Experian. You’ll get a clear picture of your credit status and see what’s been affecting your scores for better or worse.
To learn more about credit scores and the impact they can have on your life, visit the Freescore blog.

2 thoughts on “Spend That Tax Refund Wisely”

  1. Thank you for the post. It does seem to make sense to pay off some debt. That brings positive momentum. I try to encourage my customers to take some of their tax return money and do something they enjoy. Go out for a nice dinner, buy a gift for a loved one, or something small for yourself. Life has to be about more than money and debt.
    Brian Hayes
    Chicago-Home-Loan