A few years ago, I was walking in the mall and overheard a business owner trying to convince a woman to use her tax return to purchase a weave. She said that her hair was an investment. I didn’t stick around long enough to hear the customer’s response, but in my mind, I was thinking, “Buying a weave is not an investment, I don’t care how you cut it.” With the end of tax … [Read more...]
4 Ways Smart People Avoid Blowing Their Tax Refund Checks
It’s refund season and the temptation to splurge is irresistible. With the average refund check clocking in at nearly $3000, an ultra high definition flat screen TV or relaxing Caribbean vacation sure sound enticing. Let’s face it, it’s hard to save. Your tax refund is essentially forced savings, but too often we blow these savings on our desires instead of first addressing … [Read more...]
Monday Monday: How To Keep Mental Accounting From Frittering Away Your Tax Refund
by Dr. Charles Alonzo Peters With the April 18th tax deadline gone, many of us are now anxiously awaiting the arrival of handsome tax refunds. In the US, the average refund check will approach $3,036, but experts agree that much of this money will be spent frivolously. To understand why, we must realize that our brains are wired to make mistakes with money. Take the … [Read more...]