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Pay off credit card debt with tax refund? 5 questions

You have a refund check in one hand and a stack of credit card bills in the other. Do you wipe out card debt? Build up savings?

What to Do With Your Tax Refund If You Have Debt - Military.com

That means you should use as much of your tax refund as possible to pay off debt.

Tax Refunds Will Be Mainly Spent Paying Off Debt - Debt.com

The Top Use For Tax Refunds: Paying Off Debt. Free Debt Analysis. Contact us at 1-888-503-5563.

10 Smart Ways to Spend Your Tax Refund - Personalized Debt Help

There’s no “best” way to use a tax refund, but there are some smart ways to make your refund check work for you.

Put your tax refund to good use with these tips. - GOBankingRates

To combat debt, use your tax refund to pay down balances. It will help relieve pressure put on your wallet by interest charges and increase your financial freedom. Even if you can't pay off a balance in full, reducing your required minimum payment can help you avoid falling behind when money gets tight.

Five Reasons to Pay Off Credit Card Debt With Your Tax Refund

It can be hard to shrink your savings to pay off debt, but experts advise using low-interest savings to pay down high-interest debt, and using refund money means you won’t miss the money

Five Ways to Make or Save Money With Your Tax Refund

Pay off debt. One of the best uses for your tax refund is to pay off outstanding debts. Interest from credit card balances, student loans, car loans and other debts add up over time, and can make reducing these balances an uphill battle.

6 Risky Ways To Pay Off Credit Card Debt - Bankrate.com

Tracking down your tax refund. Tax tips for new homeowners. 10 often overlooked tax breaks.

Survey Reveals Where Tax Refunds Are Going To - H&R Block

Nearly half of consumers who receive tax refunds said they typically put a portion of their refund in savings. Thirty-five percent of those surveyed said they spend some of their refund on something practical, such as

5 Smart Ways To Use Your Tax Return

Even when we expect our tax returns to bring a refund, we all dread preparing for the tax deadline.

Should I Pay Off Debt With My Income Tax Refund or Put it in Savings?

If you pay off debt without having an emergency fund and an unexpected financial need arises, you are likely to go back into debt to pay that need. Your best bet might be a combination. Save a portion of your tax refund and use the rest to pay down your debt.

My student loan debt is below $5,000 • Money After Graduation

Based on my tax refund estimator I actually had to pay taxes this year for the first time ever, which meant that while I got a large tax return, I definitely didn’t get

The smartest way to use your tax refund

Using your income tax refund to pay down debt can be a smart financial move — but some strategies may net a bigger payoff than others.

10 Smart Uses for Your Tax Refund - Pay Off Credit-Card Debt

Pay Off Credit-Card Debt. iStockphoto. Using your refund to pay off a balance with an 18% interest rate is like earning 18% on your investments -- an incredibly valuable use of the money.

The No. 1 thing Americans plan to do with their tax refund - WTSP.com

Across age groups, the most popular way to spend a tax refund — in addition to saving it or paying off debt — is on a vacation. People ages 65 and older are more likely to use their refund to pay for a vacation, with nearly 20 percent of them choosing this option.

Using Tax Refunds To Get Out of Debt - Disabled World

They can use a tax refund to pay off debts, beginning with the smallest balance first. "Sometimes, that sense of satisfaction can really inspire people to keep going to work toward debt freedom," Gallegos said.

Tax Refund Reboot: 4 Better Ways to Spend Your Check From Uncle...

Refund Move #2: 39% Plan to Pay Off Debt. So What’s Wrong With That?

Smart Ways to Use Your Tax Refund - Pay down existing debt

From paying down credit card debt to advancing your education, here are some smart ways to use your tax refund

What to Do With Your Tax Refund - DailyWorth

1. Pay Off Debt This is probably a no-brainer, but if you have credit card or other consumer debt, use your tax refund to pay it down or pay it off.

How to spend your tax refund money wisely - Pay down debt

It’s almost always a smart idea to use tax refund checks to pay off at least some of your credit card debt. “Use your refund to pay more than the monthly minimum payments,” the NFCC says. If you can’t pay them off completely, make an extra payment.

Two Smart Ways to Use Your Tax Refund: Which... - The Fiscal Times

Use a chunk of your tax refund to pay off your debt, and the rest to start or pad your emergency fund. If you’ve never had much of a savings account, I’m here to tell you that it feels surprisingly good.

Treasury Offset Program FAQs - California Franchise Tax Board

I believe that I have paid off the debt and need to resolve this issue. Whom do I contact?

Could This One Tax Tip Help You Save More Money and Pay Off Debt...

BIG Tax Refunds. Have you ever asked someone about the amount of their tax refund and had to fight back a smile because yours was bigger?

7 Better Ways to Use Your Tax Refund Instead of Spending It

Here are 7 smarter uses for your tax refund versus simply spending it. 1. Pay Off Debt.

6 Ways To Spend Your Tax Refund - Student Loan Hero

What it involves: Spending half of your tax refund on something that you really want and saving half (or using it to pay off debt). If you’re like me, then your first thought is probably “Wow! $3,000 in free money coming my way!”

Investment Spending: How to Spend Tax Refunds and Unexpected...

When it comes to your tax refund, I offer the same advice: invest your spending through a strategic spending plan.

What to do with your tax refund: Here's the best way to use that check...

With individual tax refunds averaging $3,000, that's a pretty big chunk of change. And among millennials, 39% plan to save or invest their refund, 28% plan to use it to pay for necessities and 24% say they'll use it to pay down debt, according to a 2017 Bankrate Money Pulse survey.

5 Ways Americans Will Spend Their Tax Refunds in 2016

Paying down debt or increasing savings were the two most popular uses for a refund.

Americans with payday loans spent or saved their tax rebates

For low-income households, tax season often means a large refund, which could be used to pay off debt or to make a big purchase. For 10 million such households, the past year has included borrowing on payday loans—small, high-interest loans that last just a couple of weeks.

9 Smart Ways To Spend Your Tax Refund - A Debt Free Mess Free Life

2. Pay Down Credit Card Debt. If you are working on paying off your credit cards, then using this money is a smart way to reduce your overall debt burden.

Top Ways to Spend Your Tax Refund to Better Your Financial Situation

Given that fact, using your tax return to pay off credit card debt will likely be the best option for most people.

10 Brilliant Ways to Think About Using Your Tax Refund If You Have...

Student loan debt is the most debated issue of the year. If you have a student loan debt, use your tax refund to repay it as soon as you can. First, pay off private student loan debt because it has high interest rates.

People's Tax Refunds Will Be Used to Pay Decades-Old Debts From...

Don’t get too excited thinking about how you will spend your tax return just yet. The Washington Post reports that the Social Security Administration and the Treasury Department are intercepting refund checks from thousands of unsuspecting Americans to pay off debts incurred by past family...

Don't Waste Your Tax Refund: Four Better Ways to Use It

With that goal in mind, here are a few ways you can utilize your tax refund to do just that: Pay Down Debt

How to Spend Your Income Tax Refund - 25 Ideas - Debt

If you are getting a large income tax refund then at least put some thought into how you are going to use that money.

Budget Guide: Using your tax refund wisely - A Heavenly Home

Using all or part of your tax refund to pay towards the principle of your smallest loan/debt is a great way to get a large chunk of the debt paid off. Create or add to your financial safety nets. Another way you can use your tax refund is to put a portion of it into your savings account.

The No. 1 thing Americans plan to do with their tax refund - CBS News

Across age groups, the most popular way to spend a tax refund — in addition to saving it or paying off debt — is on a vacation. People ages 65 and older are more likely to use their refund to pay for a vacation, with nearly 20 percent of them choosing this option.

8 ways to make your tax refund go further - Credible Blog

Pay off high-cost debt. If you have credit card debt that you’re paying 15, 20, or 25 percent interest on, using your tax refund to pay it off is like investing your money and getting an unusually high rate of return.

5 ways to use your tax refund wisely - TaxSlayer

Tax refunds are beginning to hit bank accounts and taxpayers are feeling the urge to splurge.

How to Spend Your Tax Refund - InfoBarrel - Debt Payoff

Applying a tax refund to debt payoff can result in the loan or debt being paid off much sooner than making monthly payments.

5 Ways You Can Use Your Tax Refund To Improve Your Personal...

Your tax refund is something that you can actually use to improve your personal finances. You just have to figure out the best way to use it based on your unique financial situation.

The 9 Crucial Steps Needed To Pay off your Debt

Reduce any expenses where you can. And if you have a loan secured by some toy that you only sort of need, sell it and use the proceeds to pay off that debt.

Should I pay off debt with my tax refund? - 9news.com

Are you expecting a tax refund this year, and if so, what do you plan to do with it? The annual survey by the National Retail Federation suggests that in 2017, almost two-thirds of taxpayers expect to receive a refund, and many of those taxpayers plan to use their refund responsibly by paying down debt.

Use Your Tax Refund to Build Credit - Prime Credit Advisors

2. Stay Current On Your Debt. Of course, credit card debt is not the only debt out there, and probably not the only debt you are worried about. If addressing credit card debt is not your most pressing financial concern, you might want to put your tax refund to good use by paying off other debts like...

Your Tax Refund: Buying a Car vs. Paying Off Debt

You may find that using your tax refund to pay off high interest credit cards or an equally draining debt right now will save you a lot of money on a future car purchase.

Pay Off Debt - Use windfalls to increase your payoff

Keep a small cash cushion. Don't use all your savings to pay off your debt – keep an amount set aside that could cover

MONEY MATTERS - For Your Tax Refund

In addition to providing free tax preparation services, OFE nonprofit partners offer financial education programs to help people manage their money wisely, for instance by using their tax refunds to pay off debt, start savings programs or invest in assets.

10 smart ways to use an income tax refund - Tri-State News, Weather...

1. Get out of debt. First and foremost, it is smart to use a windfall such as a tax refund to eliminate as much debt as possible.

Four Ways to Put Your Tax Refund to Good Use - The Avant Blog

Get rid of debt. If your emergency fund is in good shape, you can start to turn your attention to other uses. The quickest and easiest way to improve your finances is to pay off debt.

How to Use your Tax Refund to Get Ahead Financially

Last year, I used 90% of my tax refund to pay on my car loan and I was ecstatic to see the balance decrease by such a large amount so quickly. The lump sum payment gave me the motivation and determination to pay off the rest of my loan by the end of last year instead of carrying the debt into...

10 Smart Ways to Spend Your Tax Refund Money Wisely

2. Pay Off High-Interest Debt After establishing an emergency fund, the next best thing you can do with your tax refund is reduce or eliminate any high-interest debt that you’re carrying.

Nine Ways to Use Your Tax Refund in 2016 - Pay off debt

Pay off debt. Most of us have some form of debt, whether it be from student loans or credit cards.

3 Responsible Ways to Use Your Tax Refund - Tackling Debts

Use your tax refund to max out your 401(k) or, if one isn’t offered by your employer, increase your Roth IRA or Traditional IRA contributions.

Why Your Tax Refund Is Ideal for Paying Credit Card Debt - NerdWallet

If you’re in the red, using the bulk of your tax refund to pay down your high-interest credit card debt can give you some fast financial relief, with almost no effort on your part.

Smart Uses for Your Tax Refund - 1. Pay off bills.

If you use your tax refund to pay off $1,000 of that bill and then continue to pay $50/month, the bill will be paid off in 24 months, at an interest cost of only $198. You will save $800 interest by paying $1000 toward the debt now.

Should I pay off debt with my tax refund? - 13wmaz.com

Are you expecting a tax refund this year, and if so, what do you plan to do with it? The annual survey by the National Retail Federation suggests that in 2017, almost two-thirds of taxpayers expect to receive a refund, and many of those taxpayers plan to use their refund responsibly by paying down debt.

What Should you Do with Your Tax Refund? - GEICO

Along with savings on tax software and commercials promising the biggest refunds, tax season also offers

Can't Pay Taxes You Owe?-How to Pay IRS Tax Debt, Tax Tips

How Can I Pay Off My Tax Debts? The IRS recommends the following tips for paying off tax debts

Debt Snowball: Eliminating Credit Card Debt

Use all bonuses and tax refunds to pay off credit card debt. I know this is harsh, but if you have credit card debt, you have somehow lived beyond your means, and you need to wipe the slate clean as quickly as possible.

4 Ways to Make the Most of Your Tax Refund - Christian Financial...

Pay off Debt. Using your tax refund to pay of debt can help you save large amounts of money, of course depending on the amount you currently owe.

5 Responsible Uses for Your Tax Refund - 2. Pay off debt.

A tax refund could go far in insulating a family against a loss of income or a change in career direction. 2. Pay off debt.

3 Ways to Use Your Tax Refund to Solve Your Debt Problem

This is especially true if your debts are old and the original creditor has charged-off the debt.

Smart Ways to Use Your Tax Refund - Farmers Insurance

You can use your tax refund to make a significant deposit to your emergency fund.

How to Make the Most of Your Tax Refund - (2) Pay off debts

To most, a big tax refund is the most awesome perk of the new year. But as every financial expert worth his salt will tell you: a big refund simply means the government was nice enough to give you

10 Tips On How To Spend Your Tax Refund Money

Use your tax refund to start a new emergency fund or to add to your existing one. You should have at least three months of expenses saved up but more is always better.

The Case for a Big Fat Tax Refund

In 2010, it was the tax refund that allowed me to put money down on a used car. In 2012, the refund was almost the exact amount of the remaining credit card debt. This year, I'll use the refund to finish paying off my car.

Canada Tax Refunds- Income Tax Refunds For... - H&R Block Canada

...tax preparation fee debt or a refund shortage from a Cash Back, a Pay Account Later ("PAL"

America Saves Week :: Tax Credit :: First United Bank

A tax refund provides the opportunity to improve your financial situation. Use these tips to get the most value from your refund check.

Should I pay off debt with my tax refund? - KSDK.com

Are you expecting a tax refund this year, and if so, what do you plan to do with it? The annual survey by the National Retail Federation suggests that in 2017, almost two-thirds of taxpayers expect to receive a refund, and many of those taxpayers plan to use their refund responsibly by paying down debt.

Government Tax Refund Withholding - freecreditreport.com

If you have debts that are past due to other government agencies, the IRS can use the money that should get refunded to you to pay on those instead.

IRS Debt Forgiveness and IRS Tax Forgiveness Services

So long as a taxpayer pays off their tax debt fully, they can use installment

A Step-by-Step Guide to Getting Out of Debt

How to Pay Off Your Debt with the Stack Method. Whether it’s consumer debt on credit cards, student loans, or a mortgage, most people find…

Personal Budgeting: Investing or Paying off Debt

As a result, paying off a credit card is almost always a better deal than investing. While some investors use their credit cards to raise funds for speculative

Americans to use more of tax refund to pay off debt: survey

The good news is that more Americans plan to spend their tax refunds by paying down debt. That’s among the results of a new survey of what people will do with the $330 billion headed back to taxpayers this year.

5 Ways Use Your Tax Refund For Smarter Savings

The average tax refund is $2,800. As nice as a vacation or new bike might sound, think about how much more that amount can pay off in the long term if you put it toward your money management goals.

Most Americans Will Use Tax Refund for Savings and Debt Payments

Across age groups, the most popular way to spend a tax refund — in addition to saving it or paying off debt — is on a vacation. People ages 65 and older are more likely to use their refund to pay for a vacation, with nearly 20 percent of them choosing this option.

7 Ways To Make the Best Use of Your Tax Refund

In fact, the average tax refund last year was about $2,700 which is more than a month's worth of income for 2 out of 3 taxpayers.

Survey: Majority of Americans plan to use tax refund to save, pay off...

LOS ANGELES, California — If you’re lucky enough to be getting a tax refund this year, there’s a good chance you’ll use it to pay off debt or putting it in the bank. A new survey from GOBankingRates finds nearly...

What to Do With Your Tax Refund - Humorous Homemaking

So let’s talk about how to plan out the most effective way to use your tax refund (or any big chunk of money you might happen upon)

Using your tax refund to settle unpaid debt in collection

> How Can I Delay Debt Negotiation and Use My Tax Refund to Settle Debt?

5 Smart Things to Do With Your Tax Refund - Credit Karma

3. Pay off debt. If you have a student loan, credit card balance, personal loan or another type of debt, you might want to apply your tax refund to

7 Smart Things to do with Your Tax Return – Trees Full of Money

Pay Off Debt: If you already have an adequate emergency fund, using your tax refund to pay off debt on high interest loans or credit cards is another way to wisely use your money.

Pay Off Debt Or Invest Calculator... - Calculators by CalcXML

At CalcXML we developed a user friendly calculator to help you determine if it is better for you to pay off debt or invest.

5 Smart Ways to Spend Your Tax Refund - Living Well Spending Less

Here are the steps you need to tackle first, before using your tax refund toward a dream cruise, fancy car, or kitchen remodel.

Getting a Tax Refund? Consider Using It for Your Down Payment

You may be tempted to use your tax refund for a splurge, but one of the best ways to accelerate your savings and improve your finances is to take “found money”—such as a tax refund or an unexpected bonus—and put it directly into your savings or to pay off debt.

One person used her tax refund to pay for a trip around the world.

"Using our tax refund to fund that trip and build those memories was the best thing we could have done." Via Wikimedia Commons.

Spending Your Tax Refund Wisely - IRS - Pay Off Debt

After paying off your debt, you would be able to spend a larger part of your income freely.

Most Popular Ways Americans Spend Their Tax Refunds

Fortunately, the majority of people use their tax refund to pay down debt, save, or invest. In a poll conducted by GoBankingRates, 41 percent of people deposited the money into their savings account and 38 percent used it to pay off debt.

How To Spend Your Tax Refund - Pay off debt

Tax refund time is the most exciting time of the year for many people – not those of us who pay taxes into the IRS, though.

How to spend a tax refund - 4. Apply the refund to one of your debts.

I would use my tax refund to pay bills, pay off a purchase I’d made with the refund in mind, or use it for a vacation. Supported by info from this blog, I made some changes to how I think about and manage my money. At the beginning of last year I was within $3000 of being credit-debt free.

5 Smart Ways To Spend Your Tax Refund - Pay off that debt!

“If you have debt, especially credit card debt, use your tax refund to pay that off first. Interest rates are on the rise, and there’s no better time to get away from paying high interest rates than right now.” Start an emergency fund.

How Should I Use my Tax Refund? What's the Best Way?

Here at Clearpoint, we frequently hear stories of clients using their tax refund to take vacations or purchase new items (TVs, cars, gadgets, etc.).

Tax returns - Citizens Advice - If you think you have paid too much tax

Debt and money Tax How to pay income tax Tax returns.

Our Tax Refund Gameplan - Couple Money

That’s a good idea to use your tax refund to pay the debt down.