Covid-19 Outbreak SA Online Resource | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
Home Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Vehicle Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Commercial Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote
Domestic Worker Insurance
Cover the person that looks after you and your family everyday
More Information
Get Quote
Menu
Home
About Us
Domestic Worker Cover Quote
Life Insurance Quote
Car Insurance Quote
Funeral Insurance Quote
Extended Warranty Quote
Pre-Owned Warranty Quote
Scratch and Dent Quote
Tyre And Rim Quote
News Room
Meet The Team
Careers
Providers
Insurance
Car Insurance
Building Insurance
Household Contents Insurance
Life Insurance
Disability Insurance
Serious Illness Insurance
Domestic Worker Insurance
All Risk Insurance
Funeral Insurance
MotorVAPS Cover
Commercial Insurance
Commercial Vehicle Insurance
Directors and Officers Liability Insurance
Errors and Omissions Liability Insurance
Support
Contact Us
Terms of Service
Privacy Policy
Disclosures
Client Letter
POPI Act
PIA Act
CIM Policy
Complaint Escalation
TCF Form

News Room

The 4 Best Ways To Spend Your Tax Refund

Melissa Cohen
2017-07-24
A small group of tax payers may experience a delay in their tax refund this year. But it’s just enough time to map out how to spend it well.
While Sars is compiling a response to the investigation into ongoing tax refund delays, let’s use the time to plan just how to spend the money…

How To Spend Your Tax Refund

Getting a tax refund can seem like free money. But consider for a moment that it’s basically an interest-free loan you gave the government, that you’re just now getting back. Possibly late. That changes things slightly. It’s your own money. Let’s put it to good use.
Get more cash back for the end of the month by saving on your monthly car insurance premium!
Paying too much for car insurance?

1. Splurge A Little

This may seem counter-intuitive to the premise we just set up. But, you’ve worked hard, you’ve filed your tax return diligently and on time – you deserve a reward. All work and no play is a formula for disaster. Even diets have a cheat day to keep morale up. Money diets (i.e. budgets) should therefor have a cheat spend for the same reason, and this should apply to your tax refund as well. Take yourself out for lunch or treat a friend or partner to dinner. Buy yourself something you want but don’t need; get a rug, a lamp, whatever. Just be silly, but remember that it’s a ‘little’ splurge – a small percentage of your tax return to treat yourself.

2. Pay Off Debt

Item one on the serious side of the financial discussion should always be clearing debt. Financial freedom doesn’t involve being tied to any creditors for life. As a rule of thumb, it’s always good to pay a big chunk of money into your highest interest bearing accounts (e.g. credit cards, retail accounts, etc.) but if it’s possible to clear a smaller debt completely, go for it. The feeling you get from saying goodbye to debt, even just one account, is enough to make you approach the rest of your debt with vigour.

3. Tick A Maintenance Item Off Of Your To-Do List

We all have those items that have been lurking around our two-do list, giving us anxiety, for longer than necessary. Things like taking your car for that service that was due 10,000 km ago if you don’t have a service plan can be pricey. A cash injection from Sars would be well suited to that expense. Especially considering that a breakdown due to negligence could cost so much more. Service the car, get a filling, fix your niggly geyser… Do now what you can to avoid big expenses down the line.

4. Save, Save, Save

Whether you’re plumping up your emergency fund, your retirement, you kid’s education; whatever you’re saving for now, you won’t regret later. Just like going to the gym, nobody reaches a savings goal and says: "I wish I’d rather spent that money". But rather than cater to every pressing expense first, decide beforehand how much of your tax refund you want to save and then save it. The longer you procrastinate on putting money out of reach the harder it will be and the more reasons you’ll find to spend it. Make saving a fixed percentage of everything that enters your bank account immediately a principle rather than an option.
You can also start saving on your monthly insurance premium. Click below to start comparing now!
CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up