Stuart Zullo 
The beginning of a new financial year is the perfect time to assess where you’re at financially, and take the time to make plans to improve your position. With masses of tax returns being lodged across the country between now and October, we’re expecting that many Liverpool families will be happy to see at least a small return being deposited into their bank accounts over the coming weeks.
As much as Aussies may like to splurge their new cash on TVs and other luxuries, most are pretty good at putting extra money into savings or paying down debt. If you are paying off a high-interest credit card, any additional payments you make will certainly help to keep your debt down.
Building up an emergency fund can also be a great idea if you don’t have a large debt requiring your urgent attention. Putting away dollars for a rainy day now means all sorts of headaches are avoided later, such as covering yourself for the month of rent your investment property is vacant, or trying to save a deposit for your new home while the household bills continue to pile up.
However you choose to spend your tax refund, be sure to make the most of it. A happy and prosperous new financial year can set you up for a lot less stress as we jump the mid-year hurdle and begin the home stretch towards Christmas.
What’s your plan for your tax return – are you a saver or a splurger?