It is that time of year again as the tax refunds slowly start rolling in. If you are one of the lucky people that receive a refund you may already be planning on how you are going to spend your refund. Here are my top tips on how to make sure you get the most out of your refund.

• If you have credit card debt, deposit the refund straight onto your credit card. This will save you lots of interest and get you closer to having your credit card work for you.
• If you don’t have a credit card, pay off any other debt you may have including personal loans, car loans or your mortgage.
• Invest some of the refund in seeking the advice of a financial advisor to help you setup an investment portfolio.
• If you feel you deserve a treat, set an amount of say 10% that you can splurge on yourself before you tackle the above points. If you take this option be sure to set your splurge amount before you go shopping!

If you haven't yet completed your tax return, the cut-off date for self lodgment is 31 October. Don't be late, get in and get your refund working for you!