Are You Getting a Tax Refund? Part 3

Well, the last thing that you can do with your tax refund, if you are lucky enough to get one, is to save or invest it.  Even if you are getting a small amount, I have found for myself that it is far easier to get excited about saving if I already have money in savings.  For me, a savings goal seems more daunting if I don't have any money in savings and and I'm just starting out.

• Emergency savings - With the current economy, experts recommend that families set aside 6 to 9 months of expenses available in cash.
• Future expenses - Maybe you have an expense in the coming months that you are expecting?   Real estate taxes, home/vehicle repair, tuition, etc.
• Invest in starting a business - More than 5 million people have lost their jobs since December 2007 according to the Bureau of Labor Statistics.  Starting a business could mean creating not only a job for yourself but others, too. 
• Add money to or start a retirement account.
• Invest in yourself by taking a class/classes.  This could open up new opportunities with your current employer or make you more marketable if you are looking for a new job.
• Food storage - Financial experts warn of BIG inflation in our future.  Save by having 3 months (or more) of food items saved in your home.  This could include purchasing a beef or other meat from a local farmer or butcher, canned goods, etc.

One last thing:  If you are getting a tax refund and don't know what to do with it, pray about it and ask God to show you where it should go.

 ²⁰ The wise have wealth and luxury, but fools spend whatever they get.  Proverbs 21:20

Live in Victory!  Lynette