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Your tax refund might be a little smaller this year
We are finally emerging from all the havoc that the pandemic caused the economy. This means the act of filing and paying taxes is returning to what it was like pre-COVID. While that sounds exciting, what it means for the average American is paying more taxes. It also means your refund might not be as large as it was last year. To get the most of your refund, it is wise to invest in yourself or your home. Here are a few ways to do that.
In this article: Cricut Maker 3, The One Paint and Primer and Gorilla Grip All-Season Doormat
Three ways to invest in yourself
- The best and arguably easiest way to invest in your future is to open or add to your Roth IRA or a 401k. This way, your money will grow over the years, so there is even more of it when you need it.
- For a more immediate payoff, consider taking an online class or a workshop that will help you excel in your professional career. You could also invest in learning a new language to make yourself more marketable.
- If you want to try something new and fun, consider investing in a hobby that will bring you joy. Maybe it’s time to finally get that Cricut you’ve had your eye on so you can start a crafting side hustle.
What should I do if I haven’t filed my taxes yet?
If you haven’t filed your taxes, you’re not alone. According to the IRS, as of last week, less than half of all Americans had filed their taxes. If you want to make the deadline, filing online is the way to go. BestReviews recently completed its analysis of strategies to get your taxes done in time for the April deadline and found HR Block’s Premium software to be the best way to do that. It is designed for the individual who has a more complex filing situation, but offers an aggravation-free user experience.
Simple home improvement projects you can accomplish with your refund
Interest rates are currently high. If you want to tackle some home improvement projects, instead of opening a line of credit, consider using your refund to fund these projects. BestReviews DIY expert Beth Allen has a few ideas on how to increase your home’s curb appeal through a few simple projects.
- Invest in a high-quality doormat: This can make your home look nicer without spending a ton of money.
- Paint your front door. This is another relatively inexpensive but effective way to make your home look nicer and refreshed.
- Place solar lights along your walkways. This requires an upfront cost, but can be a great way to ensure safety and give your home a luxurious touch.
Best ways to invest in yourself and your home
This option is for individuals with a complex tax situation. If you are a homeowner with investments, self-employed, a freelancer, an independent contractor or part of the gig economy, this is the tax software for you.
Sold by H&R Block
For individuals with a basic tax situation, this software will work for you. It features drag-and-drop inputs and guidance that make filing a breeze.
Sold by H&R Block
Rosetta Stone Language Program
If you want to learn a language, BestReviews has declared this the best way. Choose from 25 languages and get the feedback and help you need to succeed.
Sold by Rosetta Stone
The Cricut helps you take your ideas and execute them with the professional polish that lets you create one-of-a-kind items that people will gladly purchase to beautify their home. This option comes with free digital content.
Sold by Amazon
This paint has rich pigments and can be applied to wood, metal, plastic, brick, concrete and more. It comes in gloss, satin and matte finishes and requires little prep work before painting.
Sold by Amazon
Gorilla Grip All-Season Doormat
A quality doormat not only makes your home look nicer, it helps keep it cleaner and safer — no front door slips on ice-covered steps. This all-season mat is stain- and fade-resistant.
Sold by Amazon
Solar lights not only make your home more beautiful, they make it safer. This affordable option comes with one dozen waterproof LED lights that you can use to line your walkways.
Sold by Amazon
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Allen Foster writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
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