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What to Do With Your Tax Refund

A whopping 59 percent of you said that you'd be happy if you got a fat tax refund, because it tricks you into saving more money than you would if the funds were left in your hands. And while I think your money would be better off earning interest in a high-yield savings account all year instead of the government earning interest on your money, there's no turning back the clock for your 2007 return. I'm sure you've been thinking of what do you with your tax refund, but to see my suggestions just

If you're carrying a balance on your credit card bill but you don't have an emergency fund that equals at least three months living expenses, save about a third of the refund and put the rest toward your debt. And if you're all set with your emergency fund or even if you're just off to a good start, but you've been struggling to crack away at your debt, this one's a no-brainer — put it toward your debt!

Being responsible with your money isn't exactly the most fun way to treat it right now, but it really does pay off later. Remember that the money you're getting used to be part of your paycheck and you worked hard for that cash. Try your best not to blow it on a big purchase that you normally wouldn't consider, especially if you're walking around with credit card debt or without an emergency fund for a rainy day.

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