With tax season upon us, millions of Americans are expecting sizable refunds. But there’s no consensus on the best ways to put that money to work. I stopped into PIX 11 in New York City to share some tips and strategies for maximizing the extra cash.
I kicked off the segment with my top priority for refund recipients – debt repayment. The average credit card carries a 16% APR, with rates expected to increase this year. So, additional funds can get those balances down and limit interest charges. I also suggested building emergency savings using tools like the Spruce mobile banking app and investing in professional development courses from sites like edX.
I closed the segment with some best practices for filing your return safely and on time.
It was great to be back on PIX 11. Thanks to Hazel and Dan for the opportunity to educate and empower your viewers. See the full video below.
All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.