Spring is a dangerous time of year for your financial security. I know so many of you will be getting a tax refund; some of you may be getting money back from both Uncle Sam and your state. The danger is that you blow the money on a want, rather than focus on your needs.

And that’s a shame, because chances are your refund could be a serious chunk of change. The average refund last year on federal returns was nearly $2,800.

Don’t you dare spend that money on a vacation or a new flat screen. Or anything that qualifies as a “want”. You are to focus on needs first.

My short list of important needs:

1. Pay off high-interest credit card debt.

2. Pay-down a high interest car loan.

3. Pay down student loan debt.

4. Build up your emergency savings. 8 months of living expenses is the ultimate goal.

5. Fund a Roth IRA.

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    Categories: saving, tax refund, taxes