It's no fun paying taxes, but getting your refund back always adds a little spring in your step, doesn't it? The question is: What do you do with it? You could buy that shiny new TV you've had your eye on lately, or you could consider putting it to better use. Thanks to Bank of America, Sears Imported Autos has a few tips for you on how to do just that.

1) Use it to pay down debt

By paying down or eliminating certain types of debt entirely, (like student loans or credit card balances), you can help reduce the amount of interest you'll have to pay. This is a great use for a tax refund.

2) Plan for the Future

Rainy day funds are an excellent way to keep yourself out of a tricky situation down the line should you lose your job or face some other type of emergency that affects your finances. Consider putting your tax refund aside as an emergency fund that could help pay for medical expenses, car repairs, or rent.

3) Contribute to your retirement savings

If you put the money aside once, why not do so again? The younger you are and the earlier your start growing your retirement fund, the better off you'll be when you actually need to use it. Consider investing your refund in an IRA, a CD, or even a savings account.

4) Put it towards a new car

If you've been spending more money than your car is worth on repairs, or if you feel like rewarding yourself for a hard year of work, why not put your refund toward purchasing a new vehicle? You'll find just the right new model for you at Sears Imported Autos, and our Finance Department will work with you to ensure that you get the best deal on a reliable vehicle.

For more information, be sure to call, contact us online, or stop by and see us in person at 13500 Wayzata Boulevard, Minnetonka, MN 55305.