Get creative with your tax return
Around this time of year people are receiving their tax return payments. There are endless stories about how you should responsibly invest this annual bonus – pay down your credit card debt, send it into your mortgage, top up your super etc – but there are also several other creative and beneficial uses for the extra cash.
Pay for a course or conference
There are always pieces of knowledge or specific skills or talents that will make you more valuable to your employer or clients. Consider investigating courses or conferences to improve your performance in these areas. It could result in a promotion or in your work being of greater value, meaning it could be the gift that keeps on giving financially.
Create a more energy efficient home
As energy and water prices continue to rise, it makes good financial sense to change your home’s energy usage patterns. Speak with an expert to figure out how much you could save over time by installing solar power, water savers, better insulation, double glazing etc. It could also add value to your home.
Buy the body you’ve always wanted
We’re not talking about cosmetic surgery, but rather about your health. Whatever has been concerning you recently, whether it’s a medical check-up you’ve been putting off, a trip to the dentist that should have happened several years ago, a need for a relaxing massage or just general weight loss, use the money to see a specialist, join a gym, book a few personal training sessions or get whatever treatment is needed to guarantee a long, happy, healthy life.
Invest in your children or grandchildren
Rather than blowing it all on a flat screen TV, why not start an education fund for your children, or for their kids? There are several tax effective ways to do this, including via an investment bond.
Buy something that will save you money
If you truly can’t resist the urge to buy yourself a new toy, have a very careful think about what it should be. Where do you spend money and how could a gadget save you that money? If you go to the coffee shop every day, for instance, perhaps a coffee machine for home could save that expense. If you pay a landscaper then some power tools for the garden could save you that expense. And if you go to the movies regularly, there are devices that connect to your TV where you download movies at a lesser cost, which could pay off fairly quickly.