$30 per month, I can afford that.

“Wow, I didn’t know we could do that.” That was Michael’s reply when we talked about his tax projection last week.

Michael and Denise earn good salaries and each year when they get their tax refund they buy a big ticket item like the plasma TV they purchased last month. Usually they spend more than the refund and just add it to the charge card balance. This week they will be changing their withholdings giving them an immediate increase in their take home pay. Each pay period they will pay down an additional $250 on their charge card. Until now they were making the minimum payments on their charge card which would keep them paying the $20,000 balance for almost eight years. By taking their tax refund each month, in the form of extra take home pay, and adding it to the minimum monthly payment they will eliminate that credit card balance in just over two years.

If you are getting a big refund each year we need to talk. Let me show you how you might use your tax refund now to change your family tree.