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301 Lynnfield Street, PO Box 3169, Peabody, MA 01960

Phone: 978-532-0266

Fax: 978-532-9105

1147 Main Street, Suite 213, PO Box 299, Tewsbury, MA 01876
Phone: 978-851-8044               Fax: 978-851-9332

Email: jack@cbps.com

April 2018

10 Smart Ways to Spend Tax Savings

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How will you spend the extra money that the tax reform added to your take-home pay?
Consider the following smart choices:

  1. Pay down your highest-rate credit cards;

  2. Create or add to your emergency fund;

  3. Bump up your retirement plan contributions at work and through an IRA;

  4. If you have access to a Health Savings Account and qualify for one, contribute to it;

  5. Donate more to charity. New tax laws let you contribute more as a percentage of your income;

  6. Invest in yourself by taking classes to increase or add a job skill;

  7. Contribute to a 529 plan to help pay for your children’s and grandchildren’s education;

  8. Invest in technology that will make your tech tools more secure;

  9. Join a gym, because a healthier, fitter you may incur smaller healthcare bills;

  10. Take a break. It’s okay to take a vacation, and disconnect completely from work.


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