The Best Way to Use Your Tax Refund

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 6 April 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The majority of Americans will be receiving a tax refund this year, and some will be receiving thousands of dollars or more. If you are in the majority, what should you do with your refund? Save and invest it, use it to pay down debt, or something else? On this episode, we'll discuss the best ways to use your tax refund this year. We'll walk you through that question and more in today's Q&A episode! Subscribe on YouTube! Download FREE Financial Resources from the show Get our Net Worth Tool Now! Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxing.
0:09.0	You've got financial questions, he's got financial answers.
0:12.6	It's Brian Preston, the money guy.
0:16.2	The best way to use a tax refund.
0:18.6	Yeah, Brian, I'm excited about this one because this is one of the shows where we get to
0:22.6	really speak to financial meetings.
0:25.0	Because often times I feel like tax day rolls around and people get excited.
0:28.8	I'm getting some free money, it's coming back my way.
0:33.9	We might encourage a financial mutant to possibly think about that a little bit differently.
0:38.6	Well, we're in April.
0:40.1	Look, April is one of those times where there's several exciting things that happen in April.
0:45.0	You have the masters come to Augusta, Georgia.
0:49.0	You also have the tax deadline of April 15th.
0:51.8	That's right.
0:52.8	That's one of those things where we definitely want to kind of let you know how you think
0:55.9	about this.
0:56.9	We did some research, we found that 76% of returns at Americans file do indeed have refunds.
1:05.5	Let's come up with a better plan so you kind of know how to get the most out of every
1:10.2	dollar that comes into your possession.
1:11.7	Now, there was something interesting, Brian, that you said is you were like, you as Daniel,
1:16.0	I don't remember what it was.
	...

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