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How to Leverage Your Tax Refund

Posted On: March 13, 2025 by The Middlefield Banking Company in: General

Tax season is here, and many of us are eagerly anticipating that much-awaited tax refund. According to the IRS, the average tax refund is around $2,910. Instead of letting that money sit idle or splurging on a big purchase, why not use it to enhance your financial health or upgrade your lifestyle? Let’s dive into some strategic ways to leverage your tax refund: 1. Start Paying Off Some of Your High-Interest Debt High-interest debt, such as credit card balances, can quickly accumulate and become a financial burden. Using your tax refund to pay down these debts can save you money on interest payments and free up more of your monthly income for other expenses. Use our handy online credit card payoff calculator to pay down debt. 2. Start a Side Business Have you been dreaming of starting a side business or a passion project? Your tax refund can provide the initial capital needed to get your venture off the ground. Whether it's an online store, a freelance service,

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