9 smart ways to spend your tax refund

It costs money to live. A credit card is used for a lot of the things we buy for ourselves and our loved ones. The average interest rate on credit cards is 19.28 percent, which is not good.

1. Pay off credit card debt

Life happens. And so do unexpected emergencies.

2. Add to your emergency fund

3. Add it to your retirement savings, or jumpstart your retirement plan

Since you've been spending more time at home in the last few years, you might have found or developed a talent like woodworking, painting, or making sourdough bread.

4. Start a business

5. Fund a college education

There are some medical expenses that you might expect — like your child needing braces. 

6. Add it to your HSA

Your tax refund isn’t going to get you a new kitchen or bathroom.

7. Invest in your home

The main reason we go to work is to take care of our families. So it's not surprising that when we get a big tax refund, we think of them.

8. Invest in your family

We need each other more than ever before. Think about giving to an organisation in your area that you care about.

9. Help others

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