Savings Day – How Americans Plan to Use Their Tax Refunds
Expecting a tax refund?
Go Banking Rates surveyed 1,000 Americans and found that 85% of tax filers anticipate a refund this year. 4 out of 5 expect to save theirs or pay down debt. Some want to use theirs to travel, and nearly 20% want to spend it on themselves. More than a third plan to pay outstanding bills. Only 3% plan to donate theirs. The results are consistent with the trends we’ve seen the past few years. Most people are saving or paying down debt. What’s important is that you decide ahead of time what you plan to do with the funds. Keep in mind that inflation is eating away dollars, so wisely use each one you gain back.
First of all, give thanks. Secondly, check your heart. We’re ultimately controlled by what we allow in it. Voluntary submission to what we love can trap us in worldly philosophies. Or, it can free us to experience true riches found only in faithful obedience to God. Now if you love money, you’ll never have financial security. Ecclesiastes 5:10 says it this way, “Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income.” And if you love receiving more than giving, you’ll miss gaining true significance. Proverbs 28:25 says, “A greedy man stirs up dissension, but he who trusts in the Lord will prosper.” Before spending your refund, ask the Lord to examine your heart and to reveal worldly thinking. He wants you to experience a truly abundant life!
And if you’re stressed and unable to save because of credit card debt, I recommend Christian Credit Counselors. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.