7 tips to help you unleash the power of your tax refund

Because a zero-sum budget uses last month’s income to pay this month’s expenses, getting started can cause a temporary strain on your income. Consider using your tax refund to get one month ahead on your finances so you can pay your bills the following month.

See how to start a zero-sum budget >

|2| Pay down debt

If you have high-interest credit cards or other high-rate debt, take advantage of your refund to pay down that debt.

See how debt consolidation works >

|3| Save for retirement

It’s never too early to start saving for retirement. An Individual Retirement Account (IRA) is a simple way to save for retirement.

|4| Save year-round for the holidays

With Dupaco’s Holiday Club, you can systematically save for the giving season all year long. At the end of October, the balance will be deposited into your checking account (or your savings account if you don’t have a Dupaco checking account).

|5| Intentionally save for your goals

Naming your dreams—and saving for them—can help you reach your goals. Here’s why: You begin to visualize what you’re working toward. Having that visualization can motivate you to keep saving and protect your hard-earned money for its intended purpose.

With Dupaco’s You-Name-It Savings accounts, you can name them whatever you wish and systematically save for your needs or wants. These accounts can be a great tool for investing in your future, which might include further education or home improvement projects to increase your home’s value.

Another option? A Dupaco Money Market account offers higher returns than a regular savings account, plus flexible access to your funds. That means the more you save for your goals, the more you earn.

See more tools to help you save for your goals >

|6| Save for your children

Whether you establish a 529 college savings plan or open a savings account, it’s never too early to begin setting aside money for your children.

|7| Get a free Dupaco Money Makeover

You can work one-on-one with a Dupaco expert to look at your total financial picture. The Money Makeover may identify opportunities where you can cut costs and build savings. Plus, you can explore how your tax refund will benefit you the most.

Request a free Money Makeover >

Bonus: Free your refund

You work hard to earn what you make, so why wait a whole year to reap the rewards? When you get a tax refund, that means the government withheld too much of your pay and is returning it to you. What if your refund could be earning dividends for you year-round instead of showing up once a year?

Consider working with a tax advisor to figure out how to adjust your withholding to avoid withholding too much or too little. You can also try this IRS calculator. You’ll want to use your most recent pay stub and income tax return to help you input the numbers for a more accurate figure.