Johnson2468
Valued Contributor
Tax refunds can be a helpful tool for those looking to get out of debt. Rather than using the refund for discretionary spending, it can be put towards paying off outstanding debts. This can include medical costs, credit card debt, and college debts. Individuals can potentially decrease the duration of their debt repayment plan by using the return to pay off their debt in full and so paying less interest overall. To make sure the return is spent efficiently, it's crucial to have a plan in place. Tax refunds can contribute significantly to establishing financial security with some careful planning.
