Wondering what to do with your tax refund? Check out these smart options
Editor’s Note: While our Refund Advance offer ended on February 28, 2021, you can still read about the benefits of working with our tax pros to get the most from your taxes with H&R Block.
Finding out that you have a tax refund coming is welcome news, especially if your finances have taken a beating lately. Who doesn’t love money? You may be wondering how to spend your tax refund to maximize your incoming cash.
To stay financially responsible, here are some of the best ways to use your tax refund:
- Paying down debt. Paying off credit cards, student loans or other debt can take time, but it’s a smart financial move to make. Using your tax refund to pay off debt can help you take a sizable bite out of what you owe. The quicker you can manage your debt, the easier it will be to tackle your other financial goals.
- Taking care of home or car repairs. Need to fix that leaky sink or replace your worn-out tires? Whether it’s something you’ve been meaning to do or preventative maintenance, upkeep for your home or car can quickly derail your budget. In this case, it may be clear what to do with your tax refund.
- Making a special family purchase. You might have your eye on something special for your family, such as a new TV or a computer for your kids to do homework. Spending your tax refund on an item that will benefit the family is a great investment.
How H&R Block can help
You choose what to do with your maximum tax refund. At Block, Our Tax Pros are dedicated to uncovering every credit and deduction, so you get back every dollar you deserve.Disclaimer number84. Scroll to bottom of page.
Why wait for your refund? Consider a tax Refund Advance Loan
We know getting your max refund is important, but now—more than ever—it also matters how quickly you receive money. Instead of waiting for your refund, you could get a Refund AdvanceDisclaimer number109. Scroll to bottom of page. interest-free loan of up to $3,500 when you file your taxes through a participating H&R Block office. How quickly? Approved applicants can receive money the same day as filing their taxes.
If you’re approved, you’ll receive a text or email of the amount and your Refund Advance funds will be loaded to an H&R Block Emerald Prepaid Mastercard®.Disclaimer number110. Scroll to bottom of page. That means you have a convenient way to access your Refund Advance loan—anywhere Debit Mastercard® is accepted.
Refund Advance and much more at H&R Block
Be prepared for unexpected expenses with an H&R Block Emerald Advance® Line of Credit, which lets you borrow and repay money year-round.
Learn more about the H&R Block Budget Challenge, a yearly competition that gives away $3 million in scholarships and classroom grants.
Worried about overlooked tax deductions when filing your return online? Learn how H&R Block can help ensure that nothing’s missed.
Meet H&R Block Budget Challenge scholarship winner Kathryn Loggie. This teacher helped three students win $20,000 scholarships!