So how are you planning on spending your 2005 income tax refund?
According to USA Today, most Americans says they'll pay down their debt (47%), more will put the extra money into savings (35%) and some will spend their refund on everyday expenses (26%). The percentages add up to more than 100% because multiple responses were allowed of the 7,209 participants who took the survey.
It's great to see that about half of the people who took the survey plan to pay down their debt, though they'd have saved more money by adjusting their W-4 withholding, and applying the extra money all thoughout the year onto their debt.
Automatic payroll deductions are a great way to build an emergency fund. The contributions are made to your account and every 3 or 4 months, you can make a lump sum payment on credit card debt or auto loan debt (generally, these have the highest interest rates) and get yourself out of debt faster.
For more free information about how to get your debt under control, visit FindHow2.com today.
