Income Tax Refunds

With the hold that has been placed on the disbursement of income tax refunds it gives us a moment to ponder what we should do with this money. Start with a plan we need our rainy day fund, we need our emergency fund, we need our immediate cash on hand fund, and savings.

Some things to ponder the limit has increased to $5,000 for Roth IRA contributions and you can still contribute prior to April 15. Also consider purchasing some long-term CD's sometimes you can acquire a better rate if you buy long-term just make sure you can afford to live without the money. Otherwise, the penalty to withdraw is very harsh. Money-markets are good try diversifying your portfolio. Read, Read, Read and ask questions don't just jump out on a limb.

It's funny how the government is considering the tax rebates as a stimulus to the economy because most people won't save or invest that money but will use it unwisely. Don't be a part of that crowd do something that will reap rewards and residual income.

Make every dollar count.