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Your tax refund is your savings
A tax refund is not extra money or free money. It’s your money. You should have been receiving it in your paycheck all year, but Uncle Sam decided to borrow it for a bit. Another way to look at it: The government was helping you build your savings by holding your money where you couldn’t touch it. How thoughtful. ?
Since your tax refund really represents your hard-earned savings, don’t treat it like a gift to spend on something frivolous. Instead, use it to improve your ongoing financial health and reduce your stress: Use your tax refund to pay down your personal loan debt.
Gain freedom to spend your money the way you want to!
Maybe if Uncle Sam hadn’t withheld money from you all year, reducing your income, you wouldn’t have needed a loan in the first place! Now that you’re being paid back in a refund, use that money to pay yourself back. After you pay down or pay off your loan at moneylion.com/paynow, you’ll be more free to spend your money the way YOU want to going forward.
Plus, carrying excessive debt is shown to have a harmful impact on your financial, physical, and emotional health. Applying your tax refund toward your loan payments can benefit your overall health and happiness much more than buying a new TV or vacation ever could.
Paying off your loan is always in style
While it may not be as fun as a shopping spree, applying your tax refund toward your personal loan debt will bring you the greatest benefit. You can pay your MoneyLion loan today at moneylion.com/paynow.
Manageable loans as part of a savings plan
We, of course, believe that loans can be part of healthy financial life. MoneyLion Plus is a membership that helps you save $50 a month and gives you access to $500 5.99% APR loans so you don’t touch your savings when unexpected costs hit. The amount and rate of the loan help make it easy to pay off.