Here are some tips on how to responsibly manage the extra money that may be soon finding its way into your life, with estimates suggesting that most people will receive larger tax refunds in coming years.

1. Treat yourself.

Obviously you don't want to see your entire check go up in smoke, but blowing about 10% of it on something that is purely fun for you and your family is well deserved.

2. Eliminate Credit Card Debt

With the highest interest rates of any kind of debt, paying off credit card debt as soon as possible is one of the essential steps in trying to find financial stability. This should be your first priority of repayments.

3. Contribute to your retirement fund

The tax benefits and the benefits to your future lifestyle make this an essential consideration when planning how to allocate any windfall.

4. Put money into savings

Financial planners recommend having enough savings to get you through three months of unemployment.

5. Invest in your children's education

University gets more expensive every year, so making sure that you have money saved for your children's future is very important.

6. Invest in your OWN education

Attaining further education is a great way to earn more money on a regular basis. Depending on your field, this could mean anything from a single course to enrolling in an advanced degree program.

7. Attend conferences and workshops

 

Conferences and workshops are great venues for networking and meeting with other professionals in your own industry. There is also opportunity for learning and personal growth. Conferences and workshops can get you hyped up to go and try some new things.

 

8. Invest in Internet Marketing for your local business
 
While your business doesn't revolve around the Internet, chances are there are people looking for your service on the Internet.  You need to start somewhere.  While a free read, starting on the Internet is tough.  You don't need to spend a dime until you move forward, however learn how the Internet can improve your business by downloading and reading the free 184 page Marketing:  Local Business Online book on Internet Marketing for Local Businesses at http://www.marketinglocalbusinessonline.com.