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Payneless Advice Tax Preparation

Exclamation manAs with most of America many of you have started to prepare your tax information for the upcoming tax season. For some this can become a stressful time of year for others this can be a much needed cash relief as they anticipate their refund. If you are part of the latter group I would like for you to consider some practical options before you go out and splurge.

Yes, I realize that a tax refund can open the doors to a new big screen television, a long weekend trip or an all-out shopping extravaganza. But what happens when the well runs dry? Are you going to sit back and wait for the next income tax return? No of course not because you have come to understand practical wealth solutions. How should one spend their tax refund? I am glad you asked here are a few suggestions.

  1. Pay God – It is a proven fact that those who give freely shall receive openly. Giving to God will only increase what you already have. Give expecting to receive.
  2. Pay Yourself – In order to continue in your wealth building process you have to save and not spend, which brings me to point number three.
  3. Payoff or Pay down a bill – If feasible and if at all possible please consider paying of or paying down one of those nuisance bills. As long as you owe you will never grow.
  4. Create a Budget – Receiving a small windfall can give you some much needed relief and can also help you get a handle on your budget. A solid budget can go a long way and can also help reveal wasteful spending habits.

The above steps can help prepare you for increase and should be an important part of your daily wealth building habits. I understand splurging can be fun but having money at your disposal when you need it can make splurging all the more fun.

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