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According to the IRS, the average tax refund for 2024 is $3,207 as of Feb. 16, about 2% more than last year’s average of $3,140.
This is a significant update that many families won’t see until the IRS reimburses them in 2025. Most private finance experts would probably recommend saving or investing as much as possible, and who could argue with that advice?
Read now: 7 Ways Shopping at Costco Helps Retirees Stick to a Budget. Try below: Do you owe money to the IRS? Most people don’t realize they do this.
But ETFs and REITs are the only way to invest a windfall. In fact, your Costco club can help you get the most out of your tax refund. The IRS has returned your hard-earned money. Here’s how to implement it at Costco.
One way to maximize your tax refund at Costco is to invest in technology that can make you more productive at work or school or make your home more valuable, comfortable, or efficient.
“Costco’s electronics arm has wonderful deals on high-quality products,” said purchasing strategist Yaseen “Alex” Zaman, founder of CostcoPickz. com. “Using your tax refund to improve your generation can be a sensible investment. “$200 off MacBook Air computers, $350 off Arlo home security systems, and $200 off Samsung Odyssey TVs.
Current trend: Costco will give you loose food for your old electronics; Here’s how to take advantage of
An investment in generation is rarely the only way to use your tax refund on your household.
“Costco has a wide diversity of modern, durable furniture,” Zaman said. “It can also be a wonderful opportunity to refresh your living room or update your appliances. “
Currently, you can save $150 on Samsung stick vacuums, up to $120 on shaggy Thomasville carpets, and up to $400 on furniture sets.
You deserve to spend your rebate on exercise equipment or gadgets for your porch, deck, or backyard in preparation for summer.
“As the warmer months approach, investing in exercise equipment can help you stay active and maximize your space,” Zaman said.
Currently, you can save $400 on an FTX Centr 2 feature trainer with a foldable bench and a one-year subscription to the app and $150 on a FireSense propane pyramid patio flame heater.
Costco is known for promoting wholesale packaging at the retail level, and you can use your rebate wisely by purchasing gigantic quantities of discounted products with a long shelf life.
“Buying non-perishables in bulk can lead to savings over time,” Zaman said. “Think commodities like pasta, canned goods, or paper products. “
Even without express offers or discounts, buying in bulk ensures a less consistent spend per unit.
Finally, you can save money by converting the cash from your tax refund into currency for less than you allow yourself to spend.
“If you have cash to spend at Costco, gift cards are one of the most productive purchases you can make,” said Scott Lieberman, founder of private finance site Touchdown Money. “These pieces make up significant savings at your favorite retail stores and if you know how to wear them, it’s like getting a 20% off coupon. “
Cost lately offers discounted gift cards from companies as diverse as Southwest, Domino’s, NutriSystem, Cinemark, Subway, TopGolf, Instacart, Chuck E. Cheese, and many more.
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This article originally published on GOBankingRates. com: Five Things to Buy at Costco After Receiving Your Tax Refund
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