Many working people will look forward to getting a tax refund to pay bills, splurge at the mall or use for vacation. However, a better use of the money is to let that refund make more money for you! Here are a few ideas.
1. START A SMALL BUSINESS. Start a small business, to supplement a 9-to-5 job, and possibly turn it into a full-time business. If you don’t have an idea for a small business currently, save your tax refund until you get a great idea to start a business. Learn how to hear God for a great idea by reading “How to Hear God to Prosper” at TheTalk2Prosper.com.
2. CREATE PASSIVE INCOME. Use your refund to create passive income (income you generate, by creating the work, and then letting a system work generate income), such as designing t-shirts to sell on Zazzle, creating an app to sell on the App store (Apple.com), or write an eBook and selling it on Amazon.com.
3. SELL PRODUCTS. Use your tax refund to buy discounted or wholesale inventory to re-sell, as a second income. Having a small business also creates an additional tax deduction. Sell products you would purchase yourself, so you can get discounts and save money.
4. DOWN PAYMENT FOR A HOUSE. Save your tax refund towards a down payment on a house. For individuals and families who want to purchase a home for the first time, you can put as little as 3.5% down with an FHA mortgage (if you can’t get a VA-mortgage, which is typically for veterans and doesn’t require any down payment). A tax refund can provide a good amount of money to save towards a down payment.
5. RESERVES FOR EMERGENCIES. If you do not have adequate savings for emergencies, saving your tax refund to build a reserve is a must! This way, when you have extra expenses, you will not have to pay excessive fines and fees, which cost you money and set you back. Having extra money in the bank can make you feel like a new person because it will give you peace-of-mind.
6. EAT HEALTHIER. Use a portion of your tax refund to buy kitchenware (pots, pans, dishes, small appliances, and food staples to fill your cabinets), to incentivize you to cook and eat at home, instead of eat out. You can save loads of money by eating at home, compared to eating out, and cooking helps you eat healthier, as restaurant food tends to be decadent and loaded with salt, sugar and fat.
7. A NEW CAR. Use your tax refund towards the purchase of a car, if you have need of one. If you have an unreliable car, currently, or you pay excessive money for public transportation, a new car can be feasible, to get to work and to run errands. A car can also allow you to take advantage of other opportunities, such as getting to a second job or having safer (door-to-door) transportation to take college classes at night.
8. LEARN SOMETHING NEW. Use a tax refund to take a course, to learn something new—such as coding, a foreign language, a musical instrument, a trade or skill, etc. Consider online courses that might be less expensive and allow you to learn at your leisure. A new skill could come in handy for earning more money at your current job, a future position, a second job, or a small business.
9. PROSPER FOR LIFE. To prosper in all areas of life, read “How to Hear God to Prosper,” at TheTalk2Prosper.com.
©VC Edwards 2017, All rights reserved.
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Earn Extra Money!
Start a Business for Less Than $200
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1. START A SMALL BUSINESS. Start a small business, to supplement a 9-to-5 job, and possibly turn it into a full-time business. If you don’t have an idea for a small business currently, save your tax refund until you get a great idea to start a business. Learn how to hear God for a great idea by reading “How to Hear God to Prosper” at TheTalk2Prosper.com.
2. CREATE PASSIVE INCOME. Use your refund to create passive income (income you generate, by creating the work, and then letting a system work generate income), such as designing t-shirts to sell on Zazzle, creating an app to sell on the App store (Apple.com), or write an eBook and selling it on Amazon.com.
3. SELL PRODUCTS. Use your tax refund to buy discounted or wholesale inventory to re-sell, as a second income. Having a small business also creates an additional tax deduction. Sell products you would purchase yourself, so you can get discounts and save money.
4. DOWN PAYMENT FOR A HOUSE. Save your tax refund towards a down payment on a house. For individuals and families who want to purchase a home for the first time, you can put as little as 3.5% down with an FHA mortgage (if you can’t get a VA-mortgage, which is typically for veterans and doesn’t require any down payment). A tax refund can provide a good amount of money to save towards a down payment.
5. RESERVES FOR EMERGENCIES. If you do not have adequate savings for emergencies, saving your tax refund to build a reserve is a must! This way, when you have extra expenses, you will not have to pay excessive fines and fees, which cost you money and set you back. Having extra money in the bank can make you feel like a new person because it will give you peace-of-mind.
6. EAT HEALTHIER. Use a portion of your tax refund to buy kitchenware (pots, pans, dishes, small appliances, and food staples to fill your cabinets), to incentivize you to cook and eat at home, instead of eat out. You can save loads of money by eating at home, compared to eating out, and cooking helps you eat healthier, as restaurant food tends to be decadent and loaded with salt, sugar and fat.
7. A NEW CAR. Use your tax refund towards the purchase of a car, if you have need of one. If you have an unreliable car, currently, or you pay excessive money for public transportation, a new car can be feasible, to get to work and to run errands. A car can also allow you to take advantage of other opportunities, such as getting to a second job or having safer (door-to-door) transportation to take college classes at night.
8. LEARN SOMETHING NEW. Use a tax refund to take a course, to learn something new—such as coding, a foreign language, a musical instrument, a trade or skill, etc. Consider online courses that might be less expensive and allow you to learn at your leisure. A new skill could come in handy for earning more money at your current job, a future position, a second job, or a small business.
9. PROSPER FOR LIFE. To prosper in all areas of life, read “How to Hear God to Prosper,” at TheTalk2Prosper.com.
©VC Edwards 2017, All rights reserved.
Related Posts:
Earn Extra Money!
Start a Business for Less Than $200
15 Relaxing Activities that are Productive
