According to Owens, the average tax refund is $3,000 and there are a number of steps you can take to get your money to make money for you.
WealthyU Tax Return Wealth Building Tips:
- Create an emergency fund
- Set money aside for a downpayment on a house
- Start a college fund for your children
- Save for retirement
During this week’s installment of WealthyU, Owens also explained that we as a community need to shift from an income mindset to a wealth mindset. She quoted poet Henry David Thoreau as the basis for her recommendation.
“Wealth is the ability to fully experience life.” – Henry David Thoreau
Owens told Martin, “Wealth is not having to worry if you got to pay a mortgage or if you are going to have a roof over your head. That is what wealth is about, it’s about freedom.”
Watch Martin and financial guru Deborah Owens discuss tax refund wealth building tips and changing our mindsets from a income mindset to a wealth mindset in the video clip above. For more information and to sign up for Deborah Owens’ newsletter visit DeborahOwens.com/NewsOneNow.
Subscribe to the “NewsOne Now” Audio Podcast on iTunes.