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In a post onLinkedIn, Orman listed three important priorities to consider when youre decidinghow to use that refund.
This is vital to take control of your financial health.
Orman stressed that a robust emergency fund is foundational to financial security.
Consider adding your tax refund to your existing emergency savings to give it a significant boost.
Going forward, think about increasing your monthly savings.
Orman frequently talks about the importance of saving for retirement as early as possible.
If you havent already, consider contributing to a retirement account like anIRAor401(k).
Even small contributions can compound over time, leading to significant savings in the future.
Do you have other long-term goals that youre saving for, like starting a business or traveling the world?
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