Tax season is finally here again! As you wait for that extra cash to hit your bank account, you’re probably wondering, “What should I do with my tax refund?” While your tax refund might have meant a fun shopping spree in previous years, many consumers are focusing on more practical spending this year.
If you’re looking for smart ways to spend your tax return, here are seven ideas to help you get started.
1. Put Some Away in a High-Yield Savings Account
Anything can happen throughout the year, like a sudden flat tire or an appliance breaking down. You may want to have a rainy day fund ready to help pay for these unexpected expenses. That’s why putting some in a savings account is something you could want to put at the top of your list when deciding what to do with your tax return money.
Even if you already have a standard savings account, consider opening a high-yield one with a portion of your tax refund. These accounts have higher interest rates, with many paying over 4 percent. A high-yield savings account can be great for a few uses, including rainy day funds, short-term savings goals, or stashing your tax return to earn some interest until you figure out what you want to spend it on.
2. Revamp Your Home Office With a New Set Up
The right home office setup can increase your productivity and comfort, so using your refund to upgrade that squeaky, back-ache-inducing chair might be worth it. You spend eight or more hours a day sitting, and you deserve to splurge on a quality office chair that offers the necessary support to energize you during the work week.
How do you find the right desk chair? You want to look for a chair with an ergonomic design, lumbar support, enough cushioning, an adjustable height, wheels, and swiveling capability.
Once you’ve upgraded your chair, consider revitalizing the rest of your home office. A new home office desk can give you the room that you need to comfortably work, while a bookcase can get that unsightly stack of books and binders off the floor.
If your office is feeling organized but lacking in style, it could be time to splurge on some more personalization and decor. Wall art can transform your office from a dull home cubicle into an inspiring environment in less time than it takes to send an email. Meanwhile, a stylish rug can brighten up your home office while also helping to reduce noise
3. Upgrade Your Living Room With a New Sofa
You spend a lot of time kicking back on your couch, whether catching up on your favorite reality TV show or getting lost in a good book. If your couch has lumps and bumps that leave you more achy than relaxed, you could use your tax return to get a high-quality sofa.
A sofa is a big furniture purchase, so you want to invest in quality from the start. Your tax refund is the perfect opportunity to spend a little more on a couch that will last you a decade instead of one that will just need to be replaced again in a few years.
4. Pay Off Some Debt
Do you have a high balance on your credit card? Or maybe you have a car payment or student loan following you around. If you have debt, you could use your tax refund to help pay it off faster.
You don’t have to put your whole refund check toward your debt, but even one extra payment may save you some interest. And if you repeat this every tax season, it could knock months or years off your repayment schedule.
5. Get a Better Night’s Sleep With New Bedroom Furniture
Your bedroom exists for one of the most important parts of your life — sleep. But it can be hard to get quality sleep if you’re lying on an uncomfortable bed or stuck with a bedroom design that leaves you unable to relax. If you’ve been struggling to get a good night’s rest, put your tax refund toward refurnishing your bedroom.
To make your bedroom better for sleeping, start with your bed. A quality bedframe and mattress can promote better rest, making everyday life more enjoyable. Then, cover your mattress in a new set of soft sheets and a plush bedspread that will keep you cozy.
Don’t forget about the importance of aesthetics. Swap out old, rickety furniture and update your decor so you can truly relax in your sanctuary. A chic, cushy rug under the bed or a reading chair and side table in the corner can make a world of difference.
Does a new bedroom sound out of budget, even with your tax refund? CORT Furniture Outlet can help. With our gently used selection of bedroom sets and individual pieces, you can create your dream bedroom at a fraction of the cost.
6. Invest in Home Improvement Projects
Have you been putting off updates and repairs around the house? Maybe you have a super outdated washing machine or a small leak in your roof you haven’t addressed. Tax return season is the perfect time to finally get the ball rolling.
If you have an issue like a leak, you’ll want to prioritize that since ignoring necessary home improvement tasks can cost you more in future repairs. But even something as simple as swapping out old appliances for more energy-efficient options can help you save money in the long run. If you have plans to move soon, you could also use your refund to redo the floors or paint the walls to increase your home’s resale value.
7. Treat Yourself to a Home Decor Makeover
Decor might seem like a frivolous purchase, but you can’t put a price on peace of mind and comfort. Use your tax refund to incorporate decorative pillows, plants, and fun wall art to liven up your home and make you happy to live in it. Your overall mood and focus can greatly improve when you enjoy the space you’re in.
Stretch Your Refund: Find High-quality Items at CORT Furniture Outlet
Are you looking for a way to make the most of your tax refund? Why not invest in your living space? With ergonomic, quality furniture and striking decor from CORT Furniture Outlet, you can elevate the overall look and feel of your home and create a comfortable and welcoming environment.
At CORT Furniture Outlet, you can find a diverse selection of both new and gently used items at discounts of up to 70% off retail prices. Whether you prefer to shop in-store or online, you’re sure to find the perfect pieces to suit your style, needs, and budget.
By investing in your space, you’ll be making a long-term investment in your overall well-being and happiness. A comfortable and aesthetically pleasing home is a key element of a fulfilling life, after all. Bring your vision to life with CORT Furniture Outlet today!