- Splurge. Buy yourself something nice. Sometimes you do deserve to treat yourself.
- Pay off your highest interest rate credit card
- Make an extra mortgage payment if you are not subject to prepayment penalties
Per this Motley Fool article, "Making one extra payment a year on a 30-year, 6.5 percent fixed-rate mortgage will shave more than $60,000 in interest and six years off the life of a $200,000 loan. "
- Keep a stash of cash for emergencies.
Your best option is a highly liquid and high-yielding money market account. Try Capital One which as of today offers a 5.0% APY.
- Open a Roth IRA account and turn you refund into $17,000!
Per this Motley Fool article, "If you invest $2,500 -- last year's average refund amount -- and earn an 8 percent average annual return over 25 years, you end up with $17,121. It's as easy as 1-2-IRA. "
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