Life Hacks to Spend Your Tax Refund On

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It’s that magical date that comes but once a year. No, it is not Christmas! Today is the day Netfile opens for Canadian tax filers

. For those of us who will be getting refunds, it is like Christmas day, and we are already thinking of ways to spend our refunds.

If you are ready to file your tax return for the 2016 year and are looking for an easy free way to do it yourself, look no further than the free version of TurboTax! From its fully guided experience that walks you through your taxes step by step, to TurboTax Free, a simple free option that covers most tax situations and can be used anywhere anytime, TurboTax has you covered.

With TurboTax and its accurate step by step guidance, you are sure to get your maximum refund. Now how to spend that hard earned money.

Do you want to be smart and improve your life with your tax refund? Here are some life hacks you may want to invest in:

Reduce Debt

Whether it be student loan debt or credit card debt, it is always smart to use the extra cash to reduce these amounts. Pay off this kind of debt as quickly as you can, and a lump sum payment helps you to reduce the amount you will have to pay. You also win in the long run as you will also be paying less interest.  Think of it as a life hack that pays off later.

Add to Your Emergency Fund

Think of all those rainy days when you could have used a few extra dollars in your bank account. Putting money aside into your emergency fund means the money is there for when you need it most.  Think of it has the life hack that brings peace of mind.

Invest in Yourself

Sometimes developing new skills can lead to more opportunities at work but other times they simply help you improve the quality of your life. You can take a cooking class so you are not tempted to eat out as much when you can cook gourmet meals at home, you want to buy a camera and learn about photography, to may want to learn a second language to help you communicate better with those around you. Perhaps you want to improve your health and take a yoga class.  This life hack is all about you.

Get Your Health in Order

Many Canadians have to spend out of pocket on medical costs. If you need to spend on that much-needed visit to the dentist, buy those new eye glasses or to meet with a nutritionist as you make healthy choices. This is a great time to spend that money. Remember to save your receipts as well because most of this can be written off as medical expenses.

The One Big Thing

Sometimes we have been dreaming of that new big screen TV, the new laptop, the new cell phone, or perhaps it is that new bag. Whatever it is, if it can enhance your life, now would be the time to make that purchase.

There are so many ways to save and spend your tax refund. Tell me what your favourite is, and you can win a free download of TurboTax.  I am giving away five downloadable TurboTax codes to help you get your taxes done and get that refund in your hands.

*Giveaway rules: Open to Canadian tax filers who leave a comment letting me know how they would spend their tax refund.  Giveaway ends March 5th, 2017
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