How You Can Invest Your Tax Refund Next Year

While tax filing is never that exciting, knowing you are getting a tax refund or are anticipating one, certainly can be for you.

1. Invest Your Tax Refund in Your Savings for Emergencies

Instead of thinking of how you can spend your refund first, think of how it can help your savings.

2. Make Extra  High-Interest Debt Payment

This not only helps cut your down your debt a little faster, but can save you on some yearly interest.

3. Invest for Your Retirement

If you have a workplace 401k, put the extra towards your investment strategy. Or if you have your own IRA or Roth IRA, this can be used to help you max out your contribution.

4. Start Investing In A 529 Plan

If you have started a family or have kids getting closer to starting school, a 529 plan can be a great way to invest for their future.

5. Invest in Your Side Hustle

If you are starting your own business or another side hustle, investing your tax refund in your project can be wise.

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