OKMM : Oklahoma money matters : your bottom line, 03-04/2012

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March/April 2012
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Tax filing season is upon us and if Overlooking rainy days. Whether get back as a tax refund is actually you’re expecting a hefty tax refund, major or minor, emergencies money you could be living on or it could be tempting to spend happen to everyone. While saving all year long. Consider it without care. Here are some it’s not exciting to plan for adjusting your W-4 so that less enticing situations to avoid.the unexpected, a safety net is money is withheld from your essential. Use your refund to get paycheck throughout the year and Spending freely. If you don’t you one step closer to a fully-you’ll avoid giving Uncle Sam a tax-have a plan for your cash, it could funded emergency fund - three free loan. be gone before you know it with to six months’ worth of living little to show for it. Instead, take expenses. With this in place, you If your accounts are in good shape a moment to map out a spending won’t need to rely on credit when and your debt is under control, plan so you can make sure your the unexpected happens. consider these other options for money is truly working to your making the most of your refund.best advantage.Living for the here and now. Retirement may seem eons away, – Invest in self-improvement by Ignoring debt. Some say ignorance but there’s no time like the present taking a class, joining a gym, is bliss, but when it comes to to plan for your future. Consider updating your work wardrobe accruing debt, that’s not the case. using your refund to kick-start a or learning a new hobby. If living with less debt sounds Roth or traditional IRA or max – Make lasting memories by good to you, consider using your out this year’s contribution to an taking that road trip or family tax refund to make a dent in your existing retirement account. vacation you’ve been dreaming balance and then figure out how of. The joy of random purchases to avoid getting into a similar Continuing the trend. As exciting is short-lived, but those situation in the future. as it is to get a big lump-sum memories can last a lifetime. payment each spring, it’s not the best financial tactic. Money you cont. on page 2
Avoid March Tax Madness