What to do with extra income
Getting a tax refund, an inheritance, or winning the lottery sure is unexpectedly nice. Before you go out to splurge it on your wishlist, set aside some or all of it for some long term benefits.
- Pay off debt, preferably all of it.
- Build up your emergency fund
- Contribute extra to your super
- Invest in a managed fund or a high interest savings account
- Get financial advice.
To learn more smart ways to spend unexpected income, click here.