Brenda Procter, M.S., State Specialist & Instructor, Personal Financial Planning, College of Human Environmental Sciences, University of Missouri Extension
A big tax refund check can provide a financial boost that some families don’t normally receive. If you plan ahead, you can use your refund to solve problems and meet goals.
It can help when everyone in the family talks about what to use your check for and agrees on it, but the goal could be whatever provides the most benefit to the family as a whole. This can be a moment to teach young children that there are limits to what the family can afford. Let them dream a little, but don’t be afraid to say no. They appreciate limits, even if they don’t say so.
Look at this list of ideas, add your own and then make good use of your refund…
For the lengthy list of ideas, see the full version of this article at http://missourifamilies.org/features/financearticles/taxrefund.htm