Grego plays the role of financial advisor and tells you to wait on spending that tax refund.
"File your tax return yet? Day after tomorrow, April 15 is the deadline! If you don' t the IRS will eventually catch up and they will break you! A recent wallethub study says Texas is tenth from the bottom of U.S. states and Washington D.C. in financial literacy. That Texans, when dealing with money, make decisions that are often ill-informed. That`s why they say so many of us use the payday loan folks. Anyway, about that tax refund you`re planning on spending (and if you`re not getting anything back - find a new tax preparer), a good tactic when you get the check is to put it in the bank and wait a few weeks before making that big purchase you have your heart set on. Time passes and sometimes so does the pressing need to have a particular item or thing! Also, think about, if what you`re planning on buying is just frivolous spending or will it add value to what you already have. For example, a home improvement project can make your house worth more money so it's a good investment! Financial advisor Dave Ramsey says when you spend cash money you feel it more and the pain of parting with actual dollars makes you less willing to spend needlessly. However, the other side of the coin is we work hard for our money and if we want to spend it on something we enjoy or a hobby we're into, who`s business is it to tell us whether it`s a smart or ill-informed financial decision if it makes us happy? I say as long as you save a little something so when an unexpected financial emergency comes up you're ready, who cares what the survey takers say, spend some!"