6 Things To Do With Your Tax Refund
As if it isn't bad enough that 76% of Americans are living paycheck to paycheck, there are a lot of people sitting around waiting for their tax refunds to hit their direct deposit so they can buy all of these things that they probably couldn't otherwise afford.
Those of us who have a problem with spending money before we get it have probably already calculated down to the penny what we're going to spend our tax refunds on.
This year, I will not be one of those people. I have bigger things in mind besides a shopping spree or big ticket item purchase.
I'm pretty new to this tax refund thing (three years to be exact), but I've learned from the mistakes of the people around me who I've watched blow tax refund checks and of course my own experience blowing money fast. Unfortunately, many of us are never formally educated about this tax refund business and just learn from what we see. Most people see their tax refunds as “free money" from the government but it absolutely is not. Your tax refund is nothing more than the excess amount of your money that you paid to the federal government throughout the year. Keyword, YOUR money.
Let's make this tax refund season the one that helps shape our financial futures instead of a trial period of the “lavish life". Here are some of the things that I plan on doing with my tax refund check this time around:
Paying down credit card debt
Whether you have one credit card or 10, owing folk's money is NOT cute. The first thing I'm doing with my tax refund money is paying off a good portion of my credit card balances. Some experts say to start with the card that has the highest interest rate, but considering the rates on my cards are relatively close to one another, I will be starting with the card with the least amount of debt. When that balance is zero, I'm on to the next.
Paying some bills in advance
People come and go, but bills, my dear, are here to stay. Of course you could wait to pay your bills on their respective due dates as you usually would, but what harm is there in getting a head start on next month? And the month after? None whatsoever. Making some advance payments on some bills can ease some of that “first of the month" blues.
Putting some coins to the side
I've gotten into the habit of always having some emergency money stashed away somewhere because quite frankly, sh*t happens--like my MacBook wanting to give up on me every few months or so (yes, I'm in my feelings). You never know what the future holds, so just in case something crazy happens, make sure you have the money to take care of it without being broke afterwards. I definitely will be dropping some coins into my savings for the rainy days.
Investing in your work/career
Whether it's a business that you want to start or career move that you're looking to make in the near future, things that usually bring you money take some sort of monetary investment. Simply put, it takes money to make money. Investing in something now that can secure you a bomb financial future is a sure win.
Revamping your work space (especially if you work from home)
As a writer, I do a lot of work from home whether I'm writing for my own site or freelancing for another publication. In the last few months of my writing career, I've been slowly adding things to my home workspace to make me work more productively. Now, I can take care of the things that are more for aesthetics than productivity, like a new bookshelf and wall decor. FUN!
A treat of your choice
I'd be doing a disservice if I sat here and acted like tax refund checks were all work and absolutely no play. Haha, imagine that! Some people like their money where they can see it, like in their closet in the form of clothes. I'm more of an experience kind of gal. I'm not going to use my whole tax refund check to fund a big lavish vacation but I will put a few dollars to the side as my vacation spending money for when I go away in March. Treat yourself as long as it isn't going to put you right back at square one.
Now that you guys have gotten to see where my head is at, I'd love for you all to share some of the responsible (another keyword) ways that you plan on spending your tax refund check. That's if your spending it at all of course!
Featured image by NeONBRAND on Unsplash
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ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Between the rise of the creator economy and the gig economy, the window of opportunity to leverage your creativity for long-term gain has never been more potent.
For the last four years, I’ve worked as a full-time freelance writer and content creator. A year into this journey, I knew that if I wanted to create a sense of structure around my life outside of a traditional 9-5, I would have to create it.
To my surprise, that came in the form of social media.
Now, you might be wondering how someone might be able to juggle their work in a creatively-dominant career like writing while still having the mental capacity to produce ideas for their own personal brand, and well, that answer didn’t come easily.
In 2021, I hit a wall with writing and content creation.
With the stress and uncertainty that came as a result of the pandemic, to being burned out from having to live off my creativity, I reached a breaking point. For me, writing was always a space to explore my thoughts, process heavy topics, and express concepts that only words could bring reason to. However, when I didn’t have the brainpower to write or create content, I knew it was time to set parameters around my hobby of content creation and my passion for storytelling.
In this case, the biggest challenge was finding the balance between the two by releasing the guilt and shame of taking a break from both in order to reconnect with them.
Through years of trial and error, the fog finally cleared, and I was able to hit my stride in 2023. From garnering over 10K followers on TikTok, building an Instagram community around lifestyle and creative encouragement, along with my wellness collective, Black Girl Playground, and writing for xoNecole as a lifestyle contributor, the creative juices have been flowing steadily.
And it all happened by creating a strategy that allowed space for planning, resting, and creating. Today, I’ll be sharing my top tips to help you find your balance between your side hustle and passions.
On staying inspired and motivated when working on various content creation and freelancing projects:
Early this year, I came to the bright conclusion that I needed to shorten the gap between ideation and execution — and it completely changed how I create.
Oftentimes, when we have an idea come to us, we let it sit for too long, and then before we know it, we’ve either lost the enthusiasm to put it into action, or someone else grabs it. If you want to stay in a flow of creativity, whether side projects or full-time work, it’s important to not get slowed down by self-doubt, procrastination, or perfectionism.
Give yourself permission to act on your ideas as they come to you. Even if they’re a little muddy or not “perfect,” you can always fine-tune them later.
@yagirlaley shrinking the gap between [ideation] + [execution] 🧠💡#fyp #creativeadvice
On the importance of choosing a niche:
If there’s one thing that has helped me balance my work as a writer and content creator, it’s putting each in its own niche (or category). By definition, a niche is a specialized segment of the market or a specific area of expertise.
When you are creating in the same niche that you’re also making a living in, that’s an easy way to get your wires crossed. And at times, this could lead to feeling as if you don’t have any ideas for yourself because you’ve given them to the other area you're juggling.
When balancing two, you want to have enough fresh ideas to give to your personal projects and your full-time work to avoid any overlap. This ensures that your personal creative vision isn’t compromised when working on client projects while still having some for yourself.
On the strategies that have helped to maintain a consistent workflow in both areas:
I can’t stress enough how important it is to create a workflow and structure for yourself as a freelancer — this applies to those with a 9-5 in the day and a 5-9 at night, too.
As someone who admittedly has ADHD tendencies, object permanence can sometimes create a block in time and project management. That’s why I encourage creatives and professionals to create systems that allow you to see the work that’s ahead of you.
Personally, I can’t live without having multiple calendars going at once. My Google calendar keeps track of interviews for articles and events, while my physical calendar helps me keep track of important dates. I also work out of an Excel sheet where I can log in ongoing stories and track their status from drafting to submission. I’ve also heard great things about the Notion app for planning and tracking.
When it comes to creating content, spending time doing bulk content days has been an asset to my creative workflow. When I complete the videos, I save them to my drafts and upload them as needed.
Credit: Amberita
Courtesy of the writer
On the best advice for someone who is considering pursuing both content creation and freelancing simultaneously:
Don’t be ashamed of taking a break and resting — because both are essential to the life of a creative. Last month, I returned to Instagram after taking 6 months off from posting. During that time, I worked on growing my TikTok page, using the platform to practice vulnerability and allowing myself to put the fun back into creating content. Without the time, I can’t say I’d be able to approach Instagram with the same ease and playfulness; but thanks to that time away, it was possible.
Resting, letting our minds wander, or simply doing nothing are all just as productive as creating. No one can produce at all times, we have to allow ourselves the space for new concepts and ideas to flow to us. In addition to that, when we take breaks from social media, it allows us to stop the wheel of comparison and consume more than we create. So if you feel like you’re in a creative rut with all you want to balance, it may be time to take a step back, unapologetically.
Your creativity will thank you for it.
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Featured image by Sir Taylor