{"id":2061,"date":"2015-04-22T11:49:10","date_gmt":"2015-04-22T16:49:10","guid":{"rendered":"https:\/\/www.vfcu.net\/?page_id=2061"},"modified":"2018-10-11T15:04:49","modified_gmt":"2018-10-11T15:04:49","slug":"5-smart-ways-to-invest-your-tax-refund","status":"publish","type":"page","link":"https:\/\/www.vfcu.net\/es\/articles\/financial-advice\/more-tips-for-vfcu-members\/5-smart-ways-to-invest-your-tax-refund\/","title":{"rendered":"5 Smart Ways to Invest Your Tax Refund"},"content":{"rendered":"

Tax season is finally over. If you received a tax refund, think twice about how you spend it. Instead of spending it all during a shopping spree, be a savvy consumer and consider investing or saving your fresh pile of cash. Check out these smart financial tips to make the best out of your tax refund.<\/p>\n

Get in touch with us to handle your taxes or business income-related issues.<\/a><\/i><\/address>\n

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Pay Down or Pay Off Debt<\/h2>\n

First, pay off as much debt as you can. Don\u2019t succumb to tax season sales by going on a shopping spree. Instead, work on reducing or completely paying off your high interest credit cards. You\u2019ll end up saving more in the long run as paying down your balance means you\u2019ll be charged less interest. You can avoid future finance charges simply by applying your tax refund to current debt.<\/p>\n

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Start a Rainy Day Fund<\/h2>\n

So you have no accumulated debt. Well, don\u2019t start splurging just yet. For all of life\u2019s unexpected moments, think about starting an emergency savings fund. In case of an unforeseeable event, like being laid off or falling ill, don\u2019t rely on loans or high interest credit cards. With your own emergency fund, you\u2019ll have a backup that won\u2019t affect your financial standing. You\u2019ll want to set aside an amount equal to three months of salary in case of a serious emergency.<\/b><\/p>\n

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Save for Future Financial Investments<\/h2>\n

If you\u2019re debt-free and have a hefty emergency fund, look into further investment opportunities or savings options. Whether you\u2019re looking to buy real estate or save for your child\u2019s college tuition, setting aside lump sums of money when it becomes available to you is always a good option.<\/p>\n

If you\u2019re looking to be a homeowner, now is the time to take advantage of the housing market, or if you\u2019re already a homeowner, early mortgage pay-off is a viable option to reduce future interest charges. With college tuitions rising, setting up a college savings account for your kids is a smart move. There are various options for college savings funds that can help you accelerate your savings.<\/p>\n

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Save for Retirement<\/h2>\n

Got all of your debt paid off and have a well-rounded savings account? Then give yourself a pat on the back and consider saving for retirement. Compared to most, you\u2019re ahead of the game. Put money into or set up a Traditional or ROTH IRA. Even if you already have an employer-sponsored retirement account, you can take this opportunity to invest in an IRA to further strengthen your financial standing.<\/p>\n

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Speak with a Financial Specialist<\/h2>\n

With the vast variety of investment and savings options available, it is sometimes best to seek professional guidance<\/strong>. At Valley Federal credit Union, we can help you make wise investment choices for your future. Simply schedule an appointment with one of our financial advisors at any one of our branch locations.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

Tax season is finally over. If you received a tax refund, think twice about how you spend it. Instead of spending it all during a shopping spree, be a savvy consumer and consider investing or saving your fresh pile of cash. Check out these smart financial tips to make the best out of your tax […]<\/p>\n","protected":false},"author":2,"featured_media":2067,"parent":1879,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2061","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/pages\/2061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/comments?post=2061"}],"version-history":[{"count":0,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/pages\/2061\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/pages\/1879"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/media\/2067"}],"wp:attachment":[{"href":"https:\/\/www.vfcu.net\/es\/wp-json\/wp\/v2\/media?parent=2061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}