Want To Go Out Of State? Tough!
This family is getting a sweet tax refund but they can't decide on how to spend it. Debt? College Savings?
QUESTION: Cindy is getting $6,400 in tax refunds and has no money saved for her daughter for college. Should they put it toward college or paying off debt?
ANSWER: How will you pay for college? Where is she going to college? To make this work, she needs to go to an in-state school with in-state tuition. If she wants to go elsewhere, then TOUGH. You also need to stop getting that big a tax refund. That’s more than $500 a month too much coming out of your check.