6 Things To Do With Your Tax Refund
As if it isn't bad enough that 76% of Americans are living paycheck to paycheck, there are a lot of people sitting around waiting for their tax refunds to hit their direct deposit so they can buy all of these things that they probably couldn't otherwise afford.
Those of us who have a problem with spending money before we get it have probably already calculated down to the penny what we're going to spend our tax refunds on.
This year, I will not be one of those people. I have bigger things in mind besides a shopping spree or big ticket item purchase.
I'm pretty new to this tax refund thing (three years to be exact), but I've learned from the mistakes of the people around me who I've watched blow tax refund checks and of course my own experience blowing money fast. Unfortunately, many of us are never formally educated about this tax refund business and just learn from what we see. Most people see their tax refunds as “free money" from the government but it absolutely is not. Your tax refund is nothing more than the excess amount of your money that you paid to the federal government throughout the year. Keyword, YOUR money.
Let's make this tax refund season the one that helps shape our financial futures instead of a trial period of the “lavish life". Here are some of the things that I plan on doing with my tax refund check this time around:
Paying down credit card debt
Whether you have one credit card or 10, owing folk's money is NOT cute. The first thing I'm doing with my tax refund money is paying off a good portion of my credit card balances. Some experts say to start with the card that has the highest interest rate, but considering the rates on my cards are relatively close to one another, I will be starting with the card with the least amount of debt. When that balance is zero, I'm on to the next.
Paying some bills in advance
People come and go, but bills, my dear, are here to stay. Of course you could wait to pay your bills on their respective due dates as you usually would, but what harm is there in getting a head start on next month? And the month after? None whatsoever. Making some advance payments on some bills can ease some of that “first of the month" blues.
Putting some coins to the side
I've gotten into the habit of always having some emergency money stashed away somewhere because quite frankly, sh*t happens--like my MacBook wanting to give up on me every few months or so (yes, I'm in my feelings). You never know what the future holds, so just in case something crazy happens, make sure you have the money to take care of it without being broke afterwards. I definitely will be dropping some coins into my savings for the rainy days.
Investing in your work/career
Whether it's a business that you want to start or career move that you're looking to make in the near future, things that usually bring you money take some sort of monetary investment. Simply put, it takes money to make money. Investing in something now that can secure you a bomb financial future is a sure win.
Revamping your work space (especially if you work from home)
As a writer, I do a lot of work from home whether I'm writing for my own site or freelancing for another publication. In the last few months of my writing career, I've been slowly adding things to my home workspace to make me work more productively. Now, I can take care of the things that are more for aesthetics than productivity, like a new bookshelf and wall decor. FUN!
A treat of your choice
I'd be doing a disservice if I sat here and acted like tax refund checks were all work and absolutely no play. Haha, imagine that! Some people like their money where they can see it, like in their closet in the form of clothes. I'm more of an experience kind of gal. I'm not going to use my whole tax refund check to fund a big lavish vacation but I will put a few dollars to the side as my vacation spending money for when I go away in March. Treat yourself as long as it isn't going to put you right back at square one.
Now that you guys have gotten to see where my head is at, I'd love for you all to share some of the responsible (another keyword) ways that you plan on spending your tax refund check. That's if your spending it at all of course!
Featured image by NeONBRAND on Unsplash
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ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Rihanna Talks Shedding Expectations And Finding Balance As A Mother
Since becoming a mother in 2022, Rihanna has defined parenthood by her terms and hopes to pass that sense of autonomy on to her children.
For Vogue China’s April cover story, Rihanna shared her perspective on raising her two sons with A$AP Rocky, and how she hopes to preserve her children’s uniqueness, devoid of societal expectations.
"The most beautiful thing...is that [children] come into the world with their own individuality and sincerity, without any logic or conformity,” she told the publication. “Which usually makes you feel that you must fit into a certain group."
The “Work” artist, known for her trendsetting style and captivating persona, expressed her desire to support children in fully embracing their individuality and encouraging them to be whoever they want to be. "It's really beautiful to see and I want to continue to help them navigate that and make sure that they know they can be whoever they want to be,” she says.
She continues, “They should embrace it completely, because it's beautiful, and it's unique. I love them just that way."
From shattering music charts to shaking up the beauty industry, Rihanna has forged a path that has since created the “dream” life we see today. One that she says has made her parents proud of.
“I’m living my dream,” she continued. “My parents were very proud of that because they just wanted me to be happy and successful. So, I think the key thing is to find some kind of balance. Yes, balance is important. Do this and you get the best of both worlds. You can write your own life the way you want, and it will be beautiful. Sometimes, you just need to let go of everyone’s expectations and start living your own story.”
Rihanna, who shares sons, RZA, 23 months, and Riot, 8 months, with rapper A$AP Rocky, recently shared her vision for expanding her family in the future in Interview Magazine.
When stylist Mel Ottenberg asked about the number of additional children she hoped to have, Rihanna replied, "As many as God wants me to have.”
"I don't know what God wants, but I would go for more than two. I would try for my girl,” she adds. “But of course, if it's another boy, it's another boy."
Featured image by Neil MockfordWireImage