AARP Encourages Saving Tax Refunds

A very cool new tax change has occurred in which the government is encouraging tax payers who get a tax refund check to actually be able to deposit the tax refund into up to three different, separate accounts. It may not sound like that big of a deal, but the AARP is currently encouraging taking advantage of this new allowance by indicating you would like to split your tax return and deposit at least part of it in an interest yielding or investment or savings account for the future.

The AARP, who encourages saving money for retirement for obvious reasons, is glad this new allowance came about, because it makes it easier for taxpayers to exercise the “you don’t miss what you can’t see” law of human nature, where if you just send money off and never actually have it in a liquid account to spend right away, you tend to forget about it, and let it grow and prosper for you future savings and retirement funds. Or, you could always pay off one of those pesky credit card balances with part of it and invest the other part…the possibilities are endless.

This is a fairly new rule that you can split your return in up to three different deposit accounts, so you really may want to take advantage. After all, wouldn’t you feel more comfortable knowing it’s contributing to your comfort and security rather than being blown on things you’ll forget about next year or next week anyways? Something to ponder…..