Receiving Your Tax ReFUNd

Tax season came to a close last week, and you may come to find your wallet bursting at the seams. After a year of school work, employment, and tuition, student tax refunds can come as a pleasant surprise. The refund range varies, but the possibilities are endless. This creates a new challenge: how on earth are you going to spend it?

There is no right way to spend your tax refund – although we can all certainly think of a few wrong ways. You may choose to save it or spend all of it at once. The great thing is that it is entirely up to you. We here at M State wanted to provide you with five suggestions if you find yourself struggling to decide.

1. Book a Trip

Sometimes we all need a quick getaway. Take your tax refund as a chance to explore the world. Depending on the size of your refund, you could spend it towards a trip out of the country or book a weekend up north. Make it more fun by planning a trip somewhere new as you near the end of the semester.

2. Buy a Car

Cars are a necessity, and you may have realized yours is looking out of shape. You can use your tax refund as a down payment towards a new set of wheels. It is important to remember to stay within your price range. You may feel rich now, but that luxury may not last.

3. Shopping Spree

Take a look through your wardrobe. Do you have ripped clothing? Are you missing a selection of professional attire? You may want to think about using your refund towards some new styles as you set off for the summer.

4. Pay off Bills

College requires a lot of time and money. This might have caused you to put money towards academics as opposed to your bills. So, use your refund as a way of getting back on track with your payments. The less debt after graduating the better.

5. Save Up

Who said you needed to use your refund now? If you are not sure how to go about using your refund, then place it in your savings until a need arises. After all, as the money sits in your savings, you will begin to receive interest on your refund. This makes it even bigger than it was before.

No matter what you decide to do with your refund, make sure that you do it for you. One way you can help yourself is by enrolling with M State Wadena. Our outstanding collegiate education is sure to lead you on a path towards success. That way, you will not have to wait for your refund to feel luxurious.