Make full use of your tax refund, you deserve it. The following suggestions can be helpful.

1. Pay your debt

Try to square up the balance of at least one of your high interest credit cards. At least you will stop paying exorbitant interest. Surveys have shown that more than half of Americans want to utilize their refund this way.

2. Add to IRA

You can make a direct deposit of your Refund into individual retirement account (IRA). Congress has thought of this option for you so that the money is not slipping from your hands.

You can do all this by contributing to a Roth IRA, as you are not taking a tax deduction for this. Also this will mark as your contribution for the upcoming year.

If you are depositing this into a tax deductible IRA, ensure that you file your return at least three weeks before the deadline date so that this deposit will meet the April deadline also.

3. Buying a computer

It has been shown in various studies that children having computer at home are more likely to graduate from high school. Are you planning to get a computer for your family for a long time? Then this is the right time. The fully loaded computer is available for about $700 in the market.

4. Invest in your business

Wanted to buy specific software? Wanted to increase the speed of your Internet by buying a cable modem? This is the right time. Wasting time on slow connections or working hard without suitable software is damaging your business prospects. Now you have the opportunity to get smart.

5. Service your car well

People buy cars but many forget to maintain them. If you are ignoring the oil change and tune up for a long time, or if you’re ignoring the condition of tyres, this is the right time. A well maintained car can save a lot of money in the long run. Also an average spending of $200 on detailing your car can increase its sale price by about $1200

6. Remodeling your home

Thinking for some time about do-it-yourself landscaping? Use this amount to hire a professional to sketch out a plan which you can follow. For a fee of about $500 you will know what to do and how much you can go ahead in the project on your own.

7. Make some more mortgage payment

This is better than putting the money into a savings account. If you successfully knock down $1000 from your principal, and then it will save you about $10,000 over the next 25 years.

8. Start an emergency fund

By putting this money into a separate mutual fund or into money market account, you can create an emergency fund. This is a good start for building up cushion for your living expenses.

9. Treat yourself

Maybe you can enjoy with your partner for a massage, followed by a great dinner. At least you will have a memory which comes out of this money!

10. donate it

Give the money to a good cause you believe in. These contributions give you satisfaction from inside. And again this money you can claim as a tax deduction for the next year!

This money you have saved over the past year. Now’s the time to enjoy with that!