Flashback: Pay down your debt with your tax refund
Posted on February 6th, 2008 by mbhunter
Canadian Capitalist hosted Carnival of Debt Reduction #19, and this week’s Flashback comes from Investing Intelligently: Pay Down That Debt With Your Tax Refund.
These are Canadian personal finance blogs, but taxation is a sad reality in many countries, so this advice applies elsewhere as well. This advice is especially timely in the United States, as not only will some of us get a tax refund, many of us will get a tax rebate. These are both windfalls that can be used wisely or foolishly. Prudent use of a windfall such as a tax refund can kick-start or add new life to a debt reduction program. Watching that balance go down is a wonderful feeling, and watching it go down a lot is even better.
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