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Best thing to do with your tax refund


hi my name is Patrick with David I’m
your host of value taming weekly I got a
question for you do you ever feel like
this during tax season I want you to get
up now I want all of you to get up out
of your chairs I want you to get up
right now and go to the window open it
then stick your head out and yell I’m as
mad as hell but I’m not going to take
so it’s that time a season where every
year during this time we get all these
different articles and publications from
different media outlets telling us what
to do with our tax refund and I feel
like there’s two different kind of
advice you know there is there’s a one
kind of advice that’s that’s almost like
a conversation you’re having with your
with your father where it goes something
like this son let me tell you what you
ought to do with your tax refund you
know what you ought to do what’s that
Dad you got to take this money that
you’re getting you need to pay off your
credit card debt with the highest
interest rate you have or or you need to
make an extra mortgage payment to pay
off your mortgage right maybe you need
to put that into a retirement account or
or fix up the house
so put pay down your school on you you
ever heard an advice like that before I
think we’ve heard that one before and
that’s that’s the general advice that’s
kind of like trying to sell you and I
vegetables right now there are the
complete opposite articles that we read
that are so hilarious and and it reminds
me of your friends from a frat house or
fraternity or sorority trying to sell
you candy and this is what it sounds
like you know what you oughta do with
your tax refund what should I do with my
tax refund you need to go get that
tattoo you always wanted to get on your
back that’s what you need to do you know
what you need to do what’s Dad you need
to go rent a Ferrari and drop by your
ex’s workplace and take her out to lunch
and let her feel like what you lost and
what else do I need to do you need to
take that money go rent out a limo go to
the hottest club take your friends to
the nicest restaurant buy a couple
bottles of Cristal and celebrated that
one night you know what you need to do
what’s that go buy that new Louie
Vuitton bag or go get that 24-inch wheel
on your car but the most importantly you
know what you ought to do what should I
do take that money and put it all on
black on the roulette table that’s what
you ought to do so I’m not here to
promote vegetables nor am I here to
promote candy but I think here’s what we
ought to do with our tax refund you see
the way I look at it is the average
return we got in 2013 was roughly $2,600
now think about it the question we ought
to ask is what can you and I do to get
the highest multiples possible on this
$2,600 if I pay a debt off I’m not
necessarily getting the highest more
suppose possible right if I waste it on
candy which you know what I’m talking
about I’m also not doing the heist
multiples possible but what if I was to
learn a new skill set that helps
generate a new income to me that helps
me pay off majority of my debt because
of my new income for instance I would
take that twenty six hundred dollars and
go get a new license maybe I’d get a
real estate license I’d give my
insurance license maybe I’d go out there
and learn how to trade online or run a
coding learn how to run coding so I can
design my own website or learn social
media how to cook maybe I can learn how
to cook so I can make money doing
certain kind of things with cooking
maybe I can learn another language that
gives me more value in the job market
because if I can learn how to speak
Spanish as well people gonna want to
hire me maybe even get a raise on there
maybe learn a new instrument maybe learn
how to be a certified personal trainer
but I think if you and I took that money
and learned a new skill set it would
increase the value of yourself
bring more income into you to be able to
do a lot more two things maybe even the
vegetable side to pay off some of your
debt and also at the same time be able
to have some of the candy that you want
to have as well so that’s what I think
we ought to do with our tax refund in
order to get the highest possible
multiples on our yeah yes I’m doing an
episode of item and weekly so so that’s
what I think we ought to do and that’s
my message we got it we take it we got
it’s my message of the week to you and
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