We are expecting a little under $5,000 for our tax return. (Last year we had to pay taxes and that sucked. My income combined with my husband's bumped us up and we were not with holding enough separately.) I got laid off, and we didn't change my husband's exemptions so were are expecting a big return. We have several thousand dollars in credit card debt. We also have a vehicle that has a payoff amount of $6,800. The monthly payment on the vehicle is $500. Should we pay off the vehicle or the credit cards first? We also have a small loan of $900 that has a payment of $150 per month. We also have very little in our savings account. Any advice on what makes the most sense to do would be appreciated.
What should I do with my Tax Return money?
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