I just got my Taxes done yesterday, and I am getting a tax refund. Dave Ramsey has said if you are getting a return, you are giving the government an interest free loan every single paycheck. So I need to figure out how to lower my % that goes to Federal.
I am getting an estimated $1600 back. For the last 2 years of my working career, this return is the biggest and will be gone faster than in previous years.
I will be paying off my Wells Fargo credit card!! Before Dave Ramsey, this money would be gone in less than a month on stupid things and frivolous spending. This year will be different! Wells Fargo was the first credit card I had ever gotten. It started out as a $300 credit limit to a $1900 limit in the past 3 or 4 years I've had it. My balance is around $1560 and I am so happy I can get it paid off early.
This means I will have enough money to pay off 2 credits in about 2 months time. My Chase card will be the second card. Then my last credit card is Citi Bank which has the highest balance on it. I'm hoping to have this card paid off in June!
I am so excited to be Credit Card debt free. Have your plans changed for your tax return? Tell me about it on my instagram, @debtfreepanda
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