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4 Ways to Make the Most of Your Tax Refund

4 Ways to Make the Most of Your Tax Refund

Excited couple reading a letter at home

Receiving a tax refund feels like a bonus. In an instant, you’ve got some extra cash and the freedom to spend it as you wish. Here are the top four ways to make the most of your tax refund money.

Settle Up
If you hold a balance on a credit card, using your refund to settle up is a great idea. Credit cards have accruing interest, so the longer you take to pay it off, the more you’ll actually have to pay.

If you have multiple cards, pay off the one with the highest interest rate first. Once the debt is gone, you’ll actually have more money available every month.

Save It
Your practical and pragmatic side might be telling you to save your refund money. Cushion a savings account or open a new one, and keep the funds handy for a rainy day, retirement, or for a future goal, such as paying for school or taking your dream vacation.

Fund the Future
Use the money to open a special savings account for yourself or your kids, such as a Roth IRA (individual retirement account). The great thing about an IRA is that your kids can contribute their own funds each year, and watch the balance grow. (Read more about IRAs.)

Revamp Your Home
Use your refund money to purchase new furniture, an HDTV, or that laptop you could really use. There’s no time like the present to revamp your home, and there’s no better partner for great products than Rent-A-Center.

Your refund also goes further at Rent-A-Center because delivery and setup are included with your items. So whether you’ve been wishing for a new washer and dryer, dreaming of a new bedroom suite, or waiting for the right time to redo your kids’ room, Rent-A-Center makes it easy, simple, and affordable to have the products you need right away. You can even begin the easy application process online.

About Us

The good things in life don’t have to be out of reach. Rent-A-Center is here to make the things you want and need accessible, and Front & Center is your resource for living well on a budget.

Each week, we’ll bring you tips and tricks for infusing simplicity, style—even a little fun—into every aspect of your life and home. From decorating advice to money-saving strategies to opportunities to share with others like you, we’ll give you ideas that inspire. Live well, friends. And send your submissions, suggestions and questions for the blog to blog@rentacenter.com. For all customer service inquiries, please contact our Solution Center team at 1-800-422-8186.