Today is Tax Day! Are you reading this on line at the post office? Have you already picked out the new furniture that you are going to buy with the extra dough? Hopefully you don’t owe Uncle Sam. But if you do, hand over the money and pay him! He is the annoying uncle that will not go away! For those of you who are getting a few bucks back, don’t waste it on something that you won’t like in a couple of years from now. Use the money wisely. Here are 5 ways on how to spend your tax return:

1. Save 10% – Do you have an emergency fund? Save some of the money for a rainy day.
2. Pay off debt- Credit card interest can be a beast! You charged a new pair of shoes for $59.99 and end up pay $100 because of the interest. Start chipping away at debt with your refund.
3. Knock down loan principle- Do you have a mortgage or car loan? Pay it off quicker and cheaper by sending in a payment towards the “principle”.
4. College Plan – If you have kids, set up a college savings plan for them.
5. Give! – Donate to a charity, a friend in need or a special cause. It’s such a great feeling to be a blessing to someone else.

So if you haven’t filed your taxes, do it now! If you already have, spend the money wisely!