While most people don’t enjoy doing their taxes, a healthy tax refund can be a good consolation prize. For many people, a tax refund is the biggest windfall they receive each year. It’s tempting to immediately put that money toward your debt balances, but it might not be your best financial move in the long run. Here are a few signs that you should pause and think before paying down your debt.

By this point, most people are well aware that gender can have an impact on their financial situation. As women, we face the wage gap, the investing gap, the pink tax, the mommy tax, etc. But many people are less familiar with the financial barriers that transgender and non-binary people experience.

The past few years have been particularly challenging for trans people and the folks who love them.

The Financial Gym Client Mackenzie Stewart shares with us how she approaches paying off her debt on a less-than-ideal income. Mackenzie breaks down both concrete steps as well as how to shift your mindset in order to conquer those debt repayment goals.

** Our Trainers are not tax advisors nor do we provide specific tax advice in this blog. The purpose of this blog post is to provide a general overview.

If you had an on-going income source this past year, you’ll likely need to file a tax return. Your return is the government’s way of documenting and collecting on the taxes you owe, which pay for all types of government services.

Your employer will typically withhold taxes from your paycheck throughout the year, but it may not be enough to cover your tax bill, in which case you’ll owe Uncle Sam. Your tax contributions throughout the year may also have been too much — resulting in a refund.

But there are many scenarios that make filing your taxes more complicated. For instance, not everyone works in a wage-earning role. Some people earn income as an independent contractor or receive dividends from investments. Additionally, there are numerous ways to reduce your taxable income, thereby, reducing the taxes you’ll owe.
Because of all these nuances, taxes can feel intimidating. Here’s a breakdown of the basics of a tax return to ensure you’re prepared to file your taxes this season.

The excitement of a new purchase — whether it’s a small purchase at the department store or a large purchase, like a new car — feels good. Psychological studies reveal that the excitement and anticipation of getting a reward (i.e. what you’re buying) increases dopamine levels in the brain. This chemical shift gives shopping and spending money almost addictive quality.

Until you realize that you’ve blown your budget or the psychological “high” of the purchase fades and you’re faced with buyer’s remorse. Don’t let your spending habits reach this point. You can preemptively avoid this spending cycle by practicing these tips to avoid buyer’s regret.

Related: What I Learned From a Three-Month Retail Spending Freeze