Don’t Squander Your Tax Refund: 4 Smart Ways to Use It
Don’t Squander Your Tax Refund: 4 Smart Ways to Use It
It’s tax return season—and for many hardworking Utahans, that refund feels like a much-needed bonus. But before you spend it all in one place, Landon Bradfield is here to share smart ways to make your refund work for you, not just disappear.
And if you’re wondering who can join Jordan Credit Union these days? Here’s the good news—most Utahans are eligible! We’ve grown from a credit union for educators into one that serves communities across Weber, Davis, Salt Lake, Utah, and Tooele Counties.
How Much Are We Talking?
- Average tax refund in Utah: ~$3,000
- Average credit card debt: ~$6,000
So if you’re carrying high-interest debt or trying to boost your savings, that refund could be a real game changer.
4 Smart Things to Do With Your Tax Refund
- Pay Down High-Interest Debt
Got credit card debt? Your refund can go a long way toward reducing your balance—and saving you hundreds in interest across the year. Even if you can’t pay it all off, making a dent helps. - Build (or Boost) Your Emergency Fund
Aim for at least a month’s worth of expenses saved up. Even putting a few hundred dollars aside gives you peace of mind when life throws a curveball. - Invest in Yourself (Yes, It’s OK to Have Some Fun)
Whether it’s a mini vacation, a hobby, or a special moment with family, small experiences bring joy and long-term memories. “We’re human—we need motivation. It’s OK to plan something fun for yourself,” Landon says. - Improve Your Home
Use part of your refund for small upgrades that boost your home’s value, like yard work, patio projects, or a kitchen refresh. These aren’t just expenses—they’re investments in your future.
It’s Not All or Nothing
Don’t feel like you have to choose just one thing. The best strategy? Divide and conquer.
- Put a chunk toward debt
- Set some aside for savings
- Spend a little on something you enjoy
- Invest in your home or future goals
