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How can I use my tax refund to start building assets? You can deposit the money you receive from your tax refund into a savings account. You can use the money to pay off or pay down existing debt. You can use the money to start or contribute to an Individual Development Account (IDA). All of the Above.

Close… One way to start building assets is to deposit the money you receive from your tax refund into a savings account where it can earn interest. This is even easier with the new option to split your refund between several bank accounts. But, this is not the only answer!

One way to start building assets with the money you receive from your tax refund is to pay off existing debt. This allows you to save money on your monthly expenses and put it towards saving. Close, but there is a better answer…

Yes, but it’s not the only answer…. One way to start building assets with the money you receive from your tax refund is to start or contribute to an IDA, a matched savings account. To learn more about these types of accounts, be sure to check out the 30 Second Training on Individual Development Accounts (IDAs).

CORRECT!!! Depositing the money you receive from your tax refund into a savings account, using it to pay off or pay down existing debt, and/or depositing it into an Individual Development Account are all great ways to use your tax refund to start building assets. The World Institute on Disability’s Access to Assets project has information about these strategies and many more in their Equity newsletter. To access the current issue of Equity, as well as the archives, visit: 30-Second DPN Trainings are a National Disability Program Navigator collaborative effort