Using Your Tax Return to Reach Your Goals

by | Feb 8, 2021 | Housing Counseling

This month’s HOPE Huddle will focus on ways to use your tax return to help meet your financial goals. Planning ahead for your income tax return will help you make the most of that money and help you reach your financial goals. Here are some options:

  • Pay down credit card debt
  • Catch up on past due bills
  • Save money for upcoming expenses (or occasional expenses) you may have this year such as repairing your vehicle, property taxes, or car insurance
  • Create or add to your savings account to help you get closer to your savings goals

If you are receiving a large tax refund, take a look at the amount that is withheld from your paycheck. Is it better for your budget to bring home more money during the year or getting a large tax return? Consult with a tax professional if you have questions about the amount that you have withheld from you pay.

Join HOPE for our upcoming virtual Huddle, via zoom,  on budgeting your tax return to reach your financial goals. Email me at jmcdonald@habitatmonroemi.org to reserve your spot and receive the link. 

HOPE also offers one-on-one, virtual counseling services, financial literacy, and home ownership workshops. If you cannot attend our monthly Huddles or wish to discuss your financial situation in-depth, call me at 734-585-6701.

Jeanette
Jeanette

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