During the first few months of each New Year, many of us eagerly anticipate our tax refunds. There's a certain excitement when we see the amount we are set to receive, and our happiness grows even more when those funds finally arrive.

How do people typically use their refunds?

• Savings - 52% plan to deposit their refund into savings.
• Debt Reduction - 37% intend to use the money to pay down credit card debt, especially holiday purchases.
• Everyday Expenses - 22% plan to use the money to address everyday bills and financial needs.
• Home Improvements - 20% aim to use their funds for home repairs or improvements.

All these options can have a positive impact on our financial well-being and are examples of making smart financial decisions.

We recommend keeping your refund in your WV Central account and using the funds as needed. Often, when we withdraw the full refund in cash, we fail to plan our spending, and it is easy to lose track of how we used the dollars. By leaving the refund in the account, you can maintain better control over your financial decisions.

One of the best choices we can make is to set aside money into a savings account to build an emergency fund. This way, when an unexpected expense arises, we are better equipped to manage its impact and to fund our futures!

WV Central offers several accounts that provide strong returns and will help your emergency fund grow. We invite you to see us to discuss how we can assist you! You may also gather more information on options by visiting www.wvccu.org