How to spend your tax refund wisely

7:17 AM, Mar 20, 2013   |    comments
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GOLDEN VALLEY, Minn. - The IRS processed about 147 million returns last year with about 110 million of those receiving a tax refund. Those refunds averaged almost $3,000 each.

While there may be a long list of 'wants' you have waiting for this long-awaited cash; you may wish to pause and consider how you can improve your financial life with some of the money as well.

Dan Ament, Financial Advisor with Morgan Stanley joined KARE 11 Sunrise to discuss some wise ways to deploy your refund.

  • Rebuild your emergency fund
  • Reduce debt
  • Save for retirement
  • Save ahead
  • Help your kids save
  • Save for kids' college
  • Invest in your home
  • Give to others
  • Adjust your W-4

Remember, a tax refund should not be viewed as a 'windfall'. The government is simply returning YOUR money to you. Spend or invest it wisely.

(Copyright 2013 by KARE. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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