Expecting an income tax refund?
The best things you can do now with $1,000
You may love the idea of getting a $1,000 tax refund check from Uncle Sam. Of course, you know that it's really your own money, so spend it well.
*Stash it. In case of a calamity or job loss, you could need the money.
* Put it in an IRA. You'll be doing something nice for your future self.
* Buy a new front-loading washing machine. It will save up to $100 in water and electric costs in the coming year. They use 50 percent less water and 45 percent less energy than a top-loading washer.
* Buy a gym membership. You'll save money on medical expenses. A person 5 feet 10 inches tall who weighs more than 209 pounds spends an average of $1,429 more on health care in a year than someone weighing 174 pounds.
* Prepay the mortgage. Save thousands over the life of your mortgage.
* Pay the $1,000 on your highest interest-rate debt. The interest you save, say 20 percent, is the same as getting a guaranteed 20 percent return on any investment. Twenty percent is now common for credit cards.