5 ways to make the most of your refund

It’s the time of year when we’ve all finished our taxes (hopefully).

Whether you’ve been doing your own taxes for years or have someone run the numbers for you, tax season can be a stressful time. Little mistakes can turn into lower refunds or higher tax bills.

We all want to get the most for our money. God wants that for us, too. Our money is really His money and He wants us to manage it wisely.

It takes self-control not to immediately spend our tax refunds immediately. But rather than spending cash for a good time now, consider the financial legacy you want to have eventually. Wisdom urges us to think big picture, not just there here and now.

Don’t think about the temporary fun you can get out of your tax refund. Think about how it can help you move forward on the path to financial freedom.

Five Ways to Spend Your Tax Refund Wisely

1. Save it.

You will never regret saving money instead of spending it without considering your financial goals (Proverbs 21:20). If there aren’t any pressing expenses to worry about, consider setting it aside for an emergency, a child’s education, or something else down the road. Saving today prepares us for unexpected costs later on.

2. Pay off credit card debt, loans, or car payments.

The longer we wait to get out of debt, the longer we remain enslaved instead of living in freedom (Proverbs 22:7). Debt prevents us from the freedom to do whatever God calls us to do at any time. Why would we want to stay stuck in the chains of debt when we can honor God with our finances and take steps toward debt freedom?

3. Give it.

If you haven’t already started tithing (bringing at least 10 percent of your gross income back to God), there’s no better time to start than right now. Giving to God first leads to being content, which releases us from the grip of materialism (Philippians 4:11-13). If you’re already giving, consider your tax refund as an opportunity to give generously and invest in something that will outlast all of us: the local church.

4. Plan something special.

If you want to take a long trip, make a sizeable purchase or do something big in the future, it will require a plan (Luke 14:28). Financial goals don’t just happen on their own. You’ll have to be intentional about taking steps to make the goal possible. Start saving for your goals using part or all of your tax refund.

5. Help someone.

Find a family in need, sponsor a child’s food and education in a third-world country, or take a college student out to dinner. Maybe even help someone anonymously. God blesses us with joy when we bless others by giving (Proverbs 11:25, Matthew 6:1-4).

Not sure where to start? NewSpring also offers free, one-on-one financial coaching. You can also find budget templates and other helpful resources at newspring.cc/finances

Related Content

to Discover More

Article

How to give the best Christmas gifts ever

money christmas generosity

Each Christmas, I spend hours upon hours looking for the perfect gift for each person on my list.  Afte... read more

Read Article

Article

God wants to prosper you — just not the way you think

money faith generosity greed

Hearing that God wants to bless you with riches, health, and success is an enticing message. The problem is t... read more

Read Article

Article

5 simple steps to pay cash for your dream vacation

money planning goals

“Wait…what? Excuse me? Did I hear you correctly?” A slight panic set in as my heart ... read more

Read Article

Article

Have I gotten this provision thing all wrong?

money provision generosity giving tithing

Have you ever wondered where God was in the middle of a tough situation? Why He didn’t seem to hold up ... read more

Read Article

Article

How getting gifts taught me to be generous

money generosity giving

My husband and I got married when we were barely out of high school. Our first daughter was born not long aft... read more

Read Article

Article

What "storing up treasures in heaven" really means

heaven eternity money generosity greed

“You’ll never see a U-Haul behind a hearse.” Preachers have used this old saying for years... read more

Read Article

Article

Money Won’t Solve Your Problems

money generosity debt

Think winning the lottery would solve your problems? Consider this: The majority of people who win the lotte... read more

Read Article

Article

Five actions that show we put God first with our money

money generosity tithing put god first

We’ve all heard the expression “put your money where your mouth is.” We show with our actio... read more

Read Article

Article

The one thing you can count on is change

money serving planning future

Having a plan doesn’t prevent challenges. Sometimes, life gets more difficult because our circumstances... read more

Read Article

Story

We had 46,000 reasons to live debt free

March 27, 2017

discipline money provision generosity debt tithing goals

Jeremy Barber realized his actions needed to match his wife's dreams to be a stay-at-home mom.

Read Story

Story

How a community celebrated one single mom’s second chance.

Aug 22, 2017

family suicide community money salvation addiction generosity

Sherri Moss was desperate for a way out of her dead-end life. Then she found a church where she was surprised... read more

Read Story

Article

"Overflow" toolkit

money joy generosity missions blessing kingdommentality

How to live every day for our joy, God’s glory, and the world’s good!

Read Article

What's happening at NewSpring Church?

  • Need to Know: Weekly email to keep you informed about what's happening at NewSpring
  • Fuse News: Email for Fuse parents sent on the first Monday of the month
  • KidSpring Scoop: Email sent at the beginning of each series to give you the scoop on what's happening in KidSpring
  • Read My Bible: Daily devotional sent via text from 6-7am

Subscribe