Parents Guide to Tax Refunds

Parents Guide to Tax Refunds- 4 ideal ideas and smart choices for family planning.

Financial Tip Friday is brought to you in partnership with The 1st National Bank of Dennison.

Tax filing deadline is April 18th, 2022 which means families will hopefullybe receiving refunds quickly, especially if signed up for direct depost. So with the extra bucks, what should families do with the extra cash?

Open a Savings account for your child
- At The First National Bank of Dennison, there are Kids Savings Account Clubs helping students build their savings habits early.
  - H.A.M.M.Y (Happy About Managing Money Youth)( Ages Birth to 12) Club
  - F.I.T (Financially Independent Teen)(Ages 13-17) Club

2. Enroll in a Christmas Club

- Make saving for Christmas less stressful! Simply choose a goal and begin by making deposits. Your deposit amount is determined by you, in October you will receive the money you’ve saved in the form of a check or direct deposit, just in time for the holidays.

3. Open a new Savings account

- Plan for vacation, college, or home improvements with a separate savings account used for specific goals.

4. Invest

- Consider putting some of the refunds in a CD or investing in retirement with IRAs.

For help with savings, spending, and investing, speak to a local banker to help set up a solid foundation!

Mrs TAZ

Reporting

It would be wonderful if all high schools would teach the options for handling money and opportunities and paths offered by banking. Here’s a crash course list of what one may find at The 1st National Bank of Dennison.

Let’s begin with the 1874 Origin Story.