ROANOKE, Va. – Whether it’s getting out of debt or saving for a rainy day, we’re working for you, so you can get your finances in order.
After all the holiday spending you definitely want to take a look at your finances to avoid any surprise debt.
David Kembel of Kembel Tax Services recommends not running up your credit card debt from holiday shopping.
One way to get ahead of that is by using your tax refund to pay off your credit card.
Another tip, actively save for your future.
“The more you can throw in your 401(k) at work, the better. You really can’t save too much is what we tell folks. Getting out of debt would be good, pick out the highest interest rate card you have, whatever that is and start making some extra payments towards that," said Kembel.
Putting away extra money is not always easy. Kembel suggested that if you get a raise, instead of spending it, move that money to a savings account or 401(k).
When you’re using your tax refund to help pay off debt you want to make sure you get the most money back, but how?
Kembel said there’s nothing wrong with preparing now.
Get together any receipts for your charitable giving and it’s okay to make an appointment to get your taxes done.
Kembel said a big mistake people make is rushing the process so they can get their refund sooner.
“Don’t rush in here with three W-2′s when you forgot that little tiny one that you only worked a week at so just be patient and wait on all of them. Think about unemployment you collected, interest you collected, the little 401(k) you cashed out, those things don’t have to go into the mail the 31st of January," said Kembel.
Kembel is expecting the first day to file will be in the last week of January.