7 Powerful Moves to Make With Your Tax Refund

Last updated Mar 11, 2021 | By FinanceBuzz Editors
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Finally getting your tax refund in the mail is exhilarating. You've worked hard all year, and now you're finally getting some of your hard-earned money back.

While there are plenty of ways you can spend your tax refund, if you aren’t careful, you could end up blowing it on things you don't need. The result? You end up even further from your financial goals.

Instead of letting your refund go to waste, you can make powerful moves with your money today, helping you build financial security and independence for years to come. 

Get $5 to start investing in Amazon, Tesla, and other companies

Stock shares in companies you may trust, such as Amazon or other companies can be very expensive for beginning investors to buy.

The good news is that Stash allows you to start investing with just $5 or less and you can buy fractional shares so you can afford to get a piece of companies that are household names1. You can also find useful tools and guides to help build you a portfolio.

As a bonus, Stash will give you $5 to invest after you deposit $5 or more into your personal portfolio.4

Want even more tools and guidance? If you choose the Stash+ plan5 when signing up, you can earn 2x stock rewards when you spend on eligible purchases!2

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Save the $250 you'll probably pay in bank fees this year

Bank fees are annoying, so stop paying them.3 There are no hidden fees~ with the Chime mobile app — no monthly fees~, no minimum balance fees, and they even offer fee-free overdraft — up to $200*.

And no fees~ doesn't mean no features. With Chime, you can build your savings faster by automatically rounding up your purchases, plus get paid up to two days early when you use direct deposit^.

Apply online in just two minutes — there's no credit check required.

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Diversify your retirement portfolio with gold and silver

Stock market volatility can be financially damaging for investors, especially as you near retirement. You could move your investments into a savings account, but have you seen interest rates lately? Another option to consider — diversify with gold.

Gold values are inversely correlated with the stock market and the dollar. When one goes down, the other usually goes up. If you want to protect your retirement funds, having diversified investments can help you weather market swings.

Gold Alliance is a reputable precious metals dealer that specializes in precious metals IRAs. They make it simple to transfer funds from your current retirement account (like a 401(k) or IRA) into a precious metal IRA — with no taxes or penalties.

Gold Alliance offers a free investors' guide to help you learn more about why gold and silver could be a smart choice for diversifying your portfolio, and how the process works. 

Get your free guide now 

Save an average of $560/year on car insurance in Virginia

Are you staying home and driving less? If you answered yes, you've got an opportunity to lower your auto insurance premiums. With driving and auto insurance claims down, insurance companies are offering discounts.

With Insure.com, you fill out one simple form, and in minutes, you'll get a selection of personalized quotes. You'll be able to see the best prices from top insurance companies, all in one place, then pick the one that saves you the most for the coverage you want.

On average, drivers save $560/year when they use Insure.com.

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Start generating passive income

Passive income is money you make from a source that's not your job. Sounds pretty great - right? One potential source of passive income: real estate investing. 

Traditionally, investing in real estate was a complicated process requiring huge down payments. But with Diversyfund, you could co-own a portfolio of fully-vetted, cash-flowing assets in just five minutes. Getting started is easy. You just create your free account, browse available investments, put your money (at least $500) into the projects that seem interesting to you, and then monitor your investments through the Diversyfund dashboard.

Diversyfund is an all-in-one platform with no middle man and, most importantly, no fees. With real estate beating the stock market by a significant margin for the last 30 years, now might be a good time to diversify your investments.

Sign up for Diversyfund here

Invest in paintings by Basquiat, Picasso, Banksy

The ultra-wealthy have been flipping art for huge profits for decades and now non-millionaires can get in on the action. Masterworks is a platform for investing in blue-chip art, an asset class that’s outperformed the S&P 500 by over 180% between 2000-2018.

Masterworks purchases multi-million-dollar paintings and divides up ownership among its members. Just like stock in a company, you can own fractional shares of artwork. If the painting sells, you make money off the appreciation.

While Masterworks requires a $5,000 account minimum to get started, you can invest as little as $20 in each work.

Skip The Waitlist: Use our link to get exclusive access to bypass the 25,000 person waitlist!

Click here to get started

Stop overpaying when you shop online

Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.

Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, they will automatically add the best coupon code in their extensive database to help you save cash. And before you check out at favorite stores like Amazon, Target, Home Depot, and Best Buy, Capital One Shopping will notify you with a friendly pop-up if the item you're buying is available cheaper somewhere else.

Capital One Shopping is free to use and will never show you ads. Add it today and stop overpaying!6

Get Capital One Shopping now

Bonus: Get smarter about money in just 5 minutes a day

"Wealthy" is all about numbers. "Worthy" is a mindset. If you’re the type of person who’s passionate about growing your net worth and becoming financially independent, then you belong in Worthy — our brand-new personal finance community.

Join Worthy, and you’ll get expert advice on earning more, investing smarter, and saving for the life you want - right in your inbox, for free! Stay up-to-date on the latest news and trends that could impact your wallet, and get access to exclusive insider content and special offers.

Sign up now and join thousands of people who are getting smarter about money every day with Worthy.

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Stash Benefits

  • Get $5 to make your first investment
  • Invest in stocks, bonds, and ETFs
  • Fractional shares available
  • Start investing with just $1