Tax Refunds - Don't Blow It!

Now that tax seasons over, I'm sure we can all now breathe a sigh of relief (myself included). It's never fun for those that owe money, but those who are expecting a refund can jump for joy and do a happy dance. 

There are so many things you can spend the money on, and I'm sure taking a vacation or making that big purchase is tempting, but don't do it! So many people waste their refunds and it dissapears almost as quickly as it came. Invest it back onto yourself and make sure you come out ahead. 

You can put it towards your TFSA, or double up and make an RRSP deposit and get some more tax refunds next year. You can always put it towards something that makes a big difference in the long term like life insurance or more importantly, protecting your own health in the form of critical illness or disability insurance. Bottom line is, don't blow it on something that gives you satisfaction momentarily, but do something for yourself this time and make the smart financial decision that you'll be proud of down the road.

What to do with your tax refund