How to Invest Your Tax Refund

It’s April. The birds are singing, flowers are blooming, and you are banking on that big tax return to take your family on that vacation you have been dreaming of all year.

Maybe travel isn’t your thing, and you prefer possessions such as flat screen t.v.’s and the latest shoe craze?

In this post, we will show you how to invest your tax return and make it work for you.

We all know that debt is a huge deal in America. So many of us are plagued with high interest credit card bills. Want to improve your score, please your significant other, and be able to borrow more money should the need arise in the future? Use that hefty refund to pay off a few of those high interest credit cards and breathe a sigh of debt-free relief.

Tragedy hits people every day when they least expect it. Most people do not have a nest egg to rely on when tragedy strikes. What if you take at least a small portion of that refund, and tuck it away in an interest bearing account for any misfortune that could come your way? Having a few extra dollars put back when that transmission goes bad could save you in the long run.

Politics are all over the place right now, and the future of retirement seems to get more and more diminished every year. A large majority of elderly people are still working past the age of 65, and some, with multiple jobs. You worked all your life, but do you have anything to show for it? Putting back some money for retirement now, could pay off big in the future, as you finally get some time to relax with your family and enjoy the life you worked so hard to build.

Do you rent your home? Do you want to rent forever or would you rather bask in the glory of owning your own house for a fraction of what you would rent it for? Investing in the real estate market could pay off big in the future, and, if house buying is something you enjoy, the market of “flipping houses” has never been better. Invest your refund in a home and enjoy peace of mind.

Investing your refund may seem hard once you have it in your hand, but it could pay you off three-fold in the long run.

The High Cost of Veterinary Care

I was recently told by a person who adopted a rescue animal from their local animal shelter as a means to cope with the recent loss of their daughter. The story does not end well emotionally and financially due to what they were toldĀ the cost of veterinary care.

Everything was going great, until after they came home from the March of Dimes.

The couple opened the door to the room they kept their dogs in after hearing growling as soon as they arrived home.

Their small Dachshund had been attacked because the new dog introduced to the pack was trying to assert itself.

Folks who have had pets know that Veterinary bills are some of the most expensive and unexpected medical costs in our financial lives.

According to Washington Post, veterinary care in the United States jumped from $8 Billion in 2000, almost doubling to $14 billion in 2013.

This young loving couple was told that costs could estimate $4000 for surgery and wound care for their dog, and the vet hospital needed it up front. This was AFTER they spent $600 dollars out of their bill money for the appointment.

They were unable to provide any further care for their dog and had to put their dog to rest, devastating the owners.

Why should you let the cost of veterinary bills devastate a financially stable home, while veterinarian’s pay has increased by an average of $90,000 per year? Unfortunately, this is a fact of life. We often do not factor in worse case scenarios and/or unforeseen expenses.

You have many options, such as pet insurance, and deferred credit cards such as CareCredit, but, the best game plan, is good financial stability in order to have money set aside for emergencies just like this one.

Here at Berkshire Hills Financial, Tom Sirois can help you set aside money in increments that won’t affect you or your families expenditures, and avoid tragedy when it strikes next.