Congratulations to those that successfully made the April 15th
deadline to file taxes. If you didn’t file your taxes, hopefully
you filed the extension that gives you until October 15, 2013.

So what is the best thing to do if you have a Tax Refund?
Well, most people will find every way possible to blow
it on things they want.

I advise you to do one of two things:

1. Put the money into your Smart Fund.

Your Smart Fund is 7 months worth of expenses in a savings account
just in case you run into an unforeseen circumstance.  Let’s say
you have $5,000 worth of expenses each month.
First set the goal to save one month of expenses since 7 months
may seem like a big leap.  In this case one month is $5,000. Once you
hit the one month goal keep saving until you have accumulated
7 months of expenses in your Smart Fund.

2. Pay off Debt

If you already have a Smart Fund in place, then pat yourself
on the back and use the money to pay off debt.  When you
have Money on Your Terms, you become the destroyer of debt.
Start with paying off money you owe to people you have a
relationship with.  If you don’t owe any money to relatives or
friends then pay off the debt that has the highest interest rate,
usually this will be your credit cards.

If you’re expecting a refund this year, then be smart with
it by putting your tax refund to good use.  You will be glad you did.

In the bestselling book, Money on Your Terms, I lay out
the formula for you to achieve Financial Freedom.

Remember when it comes to money,
it’s on your terms not their terms.


Leave a Reply

Your email address will not be published. Required fields are marked *