What to Do with Your Tax Refund

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young woman excited about tax refund

If you’re one of the fortunate people who’s getting a tax refund this year, how do you plan to use that money? Here are some ideas to consider:

Pay down debt
A great way to spend your refund is to pay down any debt you may have. Paying down debt helps reduce monthly payments and enables you to use those resources in some other way.

Invest wisely
Use your money to open a BancorpSouth IRA, or invest it in some other way. Maybe this is a good time to start an emergency savings fund in a BancorpSouth savings account. No matter how you invest your money, you’ll enjoy peace of mind knowing you have money available if you need it.

Make home upgrades
Depending on the amount of money you get back, you may be able to use it for making simple upgrades to your home. Maybe you’ve wanted to add crown molding or paint a room in your home. Or, you could use some of the money to update your home’s curb appeal.

Invest in your future
You may wish to give to a charitable organization or add to existing retirement or health savings accounts. Check with your tax advisor to see if any or all of these things will help improve your tax position for the following year.

Take a vacation
Is it time to have some fun and take a vacation? Take a trip somewhere you’ve always wanted to go, or visit family or friends you haven’t seen in a while.

Whatever you decide to do with your tax refund, make sure it works for you.
To learn more about how to invest your tax refund at BancorpSouth or call 888-797-7711.