Use Windfalls to Pay Off Debt

Tax refunds, bonuses, or any unexpected cash windfalls should not be spent on a shopping spree—use them to pay down your debt! It’s easy to get tempted by a windfall, but putting that money toward your credit card balance is a smart move. Whether it’s a $100 refund or a $2,000 bonus, putting that money directly toward your debt can make a significant impact on your balance. The more you put toward your debt upfront, the faster you can get it paid off.