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0 -0.000868809730668965 0.000868809730669119 -0.00173761946133793 0 0 -0.000868809730668965 -0.00347523892267586
Stock impact report

Tax refund is rare chance to trim debt, boost savings | Opinion [Yahoo! Finance]

Banco Santander, S.A. Sponsored ADR (Spain) (SAN) 
Company Research Source: Yahoo! Finance
opportunity to reset their financial situation, especially if they have high-interest debt or minimal savings. Too often, tax refunds are treated as “fun money,” when in reality they may be one of the few chances each year to improve a household's financial position. In fact, 29% of Americans have more credit card debt than they do in emergency savings, according to Bankrate Tax season is a great time to assess your finances and outline new priorities. Understanding your debt, interest rates and monthly obligations can help you determine where to apply your refund money. For consumers with minimal savings, setting aside at least $1,000 in a “rainy day fund” can help cushion against unexpected expenses like flat tires or home maintenance. Dipping into allotted savings, instead of reaching for the credit card, can help consumers avoid falling into more high-interest debt payments, further straining budgets and compounding stress. Debt reduction is the next ideal use for a tax refu Show less Read more
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