Money Matters Monday: Using your tax refund wisely
By WDIO
May 13, 2024 - 3:14 PM
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Money Matters: Tax Refunds
Financial Expert Barry Bigelow stopped in to the studio to discuss what people should be doing with their tax refunds.
If you received a tax refund that is higher than expected this year, you are not alone. Financial advisor Barry Bigelow from Great Waters Financial said that the average Minnesotans received nearly $3,000 this year.
If you are thinking about splurging with your check, Bigelow says to take a step back and really think about how your finances impact you. He says that considering paying back debt and investing are good ways to manage your financial health.
Bigelow says that there are some ways you can invest while having fun. Experience is something that Bigelow says should be utilized, he says instead of giving your children large sums of money once you pass, you should consider taking them on a trip during your life. These experience’s create memories, says Bigelow.