West Valley City, Utah
2592 S 5600 W, Ste 104
West Valley City, UT 84120
(801) 335-4389
Life has a way of throwing unexpected things our way, so it's important to have financial options you can turn to. Frankly, most of us find it impossible to foresee the dog having to go to the vet, or our means of transportation failing just when we need it most. That's the way real life can be, surprising you when you can least afford it. Thankfully, Minute Loan Center in West Valley City, UT is here to help.

Loan Experts Encourage You to Invest Your Tax Refund Instead of Spending It February 20, 2017

West Valley City, Salt Lake County
Loan Experts Encourage You to Invest Your Tax Refund Instead of Spending It, West Valley City, Utah

Many people view their tax refund as “free money,” and blow it on a vacation or shopping spree. But the reality is that your tax refund is a part of your annual income. It is money you worked hard for. The consumer loans experts at Minute Loan Center, in Delaware, Nevada, Utah, and California, encourage you to reconsider what you do with your tax refund this spring. Instead of splurging on material goods, try investing your good fortune in a way that will give you a better financial cushion.

3 Ways to Invest Your Tax Refund

The consumer loan experts at Minute Loan Center suggest investing your refund in one of three ways:    

1. Put It in a Savings Account

It may seem simple, but it’s effective. According to a 2016 GoBankingRates Survey, 69% of Americans have less than $1,000 in their savings account. Thirty-four percent have no savings at all. Even if you were to only invest a few hundred dollars into your savings, you would be better off than 34% of Americans. If you invested your entire tax refund (the average of which is $3,120), you would be three times better off than the majority of your peers.

2. Make an Investment

Maybe you’ve wanted to make a large investment, but you’ve been waiting for that financial cushion that will allow you to do so. Because your tax refund is money you didn’t technically have before, use it to take a calculated risk. Invest in real estate, a tech startup or even an up-and-coming stock.

3. Pay Off a High-Interest Loan

By using your tax refund to pay off a high-interest loan, you can save thousands of dollars in the long run. You can also ease your financial burden in the present by saving the money that you were using to make monthly payments on the loan.

While it is up to you what you do with your money, their consumer loans experts encourage you to invest, not spend. By making smart choices with your money now, you are setting yourself up for a comfortable financial future.

Visit them online to find a location near you.


The information provided is for informational purposes only and is not a substitute for professional financial advice. You should consult a credit counseling professional concerning the information provided and what should work best in your financial situation. And any action on your part in response to the information provided is at your discretion. Loans issued by Minute Loan Center are Licensed by state of origination. Certain limitations apply. Subject to approval. See your local store for more details and additional disclosures.

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