BONUS TIP: CREATE AN OPPORTUNITY FUND
Menard suggests carving up your refund and putting 20 percent into what she describes as an opportunity fund. “This is money you can use to take advantage of opportunities to purchase things you really need or were already planning to buy at some point when they go on sale or are deeply discounted,” she says, explaining the appeal this way: “You’re saving money on stuff you were going to buy anyway, without having to charge it and pay interest.”