Tax season is upon us, and it’s time to gather important documents and secure appointments with accountants. All of the hustle and bustle is worth it when you receive the highly coveted tax refund. Extra cash in your pocket during springtime is exciting, but what do you do with it? At Centennial Construction & Remodeling Services, Inc., we see home construction and remodeling projects as an investment. Spend your tax refund wisely, and invest it in your property.
The stress of tax season is mounting. Take a moment to consider what you’ll do with some extra cash. Overall, most Americans spend their tax return money 3 basic ways:
If you find yourself without an emergency fund in your savings account, it’s wise to save this money. Generally, it’s encouraged to have at least 3-months’ operating expense in your savings account for emergency purposes. Depending on your lifestyle and family environment, you may wish to reserve upwards of 6 to 8 months’ worth of emergency funds.
Paying off high-interest debt is always the top priority when tackling the bills. Conquer the credit card debt, car loans, and student loans to avoid incurring additional debt due to interest accumulation. Consult your personal finance and accounting advisors for specific recommendations on paying off debt.
Putting money into your home is a great investment by increasing the property value. You’ll find the most bang for your buck with kitchen and bathroom remodeling projects. Making your home safe and contemporary adds curb appeal in a seller’s market.
Do your due diligence by evaluating your home and identifying where your tax return funds are most useful and valuable.
Some ideal springtime projects include:
With expert service in construction, remodeling, exterior, roofing, and restoration, your future home improvement project just got easier! Our family-owned business is proud to have served the northern Indianapolis area for over 25 years. Contact Centennial Construction at (317) 848-7634 to start your next project.
Photo credit: public domain via flickr.com
https://www.moneycrashers.com/what-to-do-with-your-tax-refund-money/
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