SeaComm Federal Credit Union OFFICIAL BLOG

How to Use Your Tax Refund

Are you getting a tax refund this year and not sure what to do with it? Instead of blowing the extra funds on dinners out or expensive purchases, help yourself get ahead financially. We’ve put together four smart ways to invest your tax refund…continue reading to learn more.

Give yourself peace of mind. The best way to rest easy is having the cash on hand to cover unexpected expenses, like car trouble, unplanned visits to the veterinarian, or job loss. Ideally, you should have enough funds in your emergency savings to cover at least three months of living expenses. Invest a portion of your tax refund in an emergency savings account with SeaComm, today! Click here to learn about the best savings options for your lifestyle, or stop by your local SeaComm branch.  

Take care of some home improvements. Depending on how large your tax refund turns out to be, you might be able to get some minor home improvements out of the way. This is a great way to invest your money, especially if you plan to sell your home in the near future. Click here to read our blog article for the most important things to repair before you sell your house!

Pay off high-interest debt. If you have credit card debt, paying it off is the best investment you can make with your tax refund. If your refund does not cover the entire outstanding balance, look into consolidating your remaining debt to a SeaComm Visa® Platinum, with a lower interest rate.

You might already be pre-approved for a SeaComm Visa® through LoanEngine™, our loan pre-approval program that allows you to view and accept loan offers without having to come into a branch or fill out an application! If you qualify for a pre-approved offer, you will be presented with it through our SeaComm Mobile app or NetTeller™ in the “My Offers” tab, via email, and/or a letter through the mail.

You may accept offers immediately by following the prompts, or by calling into our call center at (800) 764-0566. Click here to login to your NetTeller™ to view your current offers! If you don’t have any offers at this time, be sure to check back every 60 days.

Contribute to your retirement. The one goal everyone shares is to achieve retirement! It is important to save for retirement earlier, and save more money than you think you will need. With a SeaComm Individual Retirement Account (IRA), you are able to build a nest egg at your own pace, and enjoy a variety of benefits; no monthly fees, no minimum balance requirements, dividends paid monthly, and more. If you are seeking a higher yield by investing your IRA funds for a specified term, you might consider a SeaComm IRA Certificate. Click here to learn more or give us a call at (800) 764-0566 to schedule an appointment.

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