How to Keep Your Tax Rebate

Step-by-Step Guide

1. 1

   Step 1: Know how much you're getting back.

   Determining the exact amount of your tax rebate will help you allot portions of it more wisely into different savings opportunities.
   
   Using an estimated figure to calculate how much you should spend to pay down bills or debt and how much you can afford to save can result in you having less saved in the end.
2. 2

   Step 2: Explore investment opportunities.

   Work with an investment expert at your local bank to find investment opportunities to make your tax rebate work for you.
   
   Investments like IRAs will earn interest once invested, making your savings grow.
   
   Your investment options will vary depending on the size of your tax rebate, which was determined by the government according to your average annual income. , Tax season is a great time to open a new savings account, because banks often offer special deals with beneficial interest rates or cash back to encourage customers to save some of their tax rebate.
   
   Find an account package that will give you the most interest on your rebate deposit. , Paying bills, rent or mortgage payments in advance is a way of keeping your tax rebate, because it is an investment toward your future expenses.
   
   Pay ahead on these regular bills to help defray costs in the future when money is tight. , Keep your tax rebate for the future by establishing a college fund for yourself or your children.
   
   This is a good way to start a college fund with a considerable amount of money that will earn interest as it grows. , Knowing that your rebate is specifically earmarked for something important will help you avoid the temptation to spend it on material things. , Work with a stock analyst or an investment broker to determine the safest stocks you can invest in with the amount of your tax rebate.
   
   This is a form of saving your tax rebate, because your money will increase as your stock gains value. ,, This way, you will have money to pay for unexpected expenses such as car repairs or hospital bills.
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   Step 3: Open a savings account.

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   Step 4: Pay bills ahead.

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   Step 5: Start a college fund.

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   Step 6: Save for a future purchases.

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   Step 7: Buy stocks.

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   Step 8: Create an emergency fund.

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   Step 9: Save your tax rebate as a fund for potential emergencies.

Detailed Guide

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