What to do with your IRS Refund

So you just got a big, fat check from the IRS and your thoughts immediately wander to the shoe department, right? Might wanna hold it right there! You might want to consider a few different ideas before heading out for some retail therapy. KIMBERLY LANKFORD of Kiplinger's Personal Finance magazine suggests paying off high-interest credit card debt, rebuilding your emergency fund, boosting your retirement savings, building the college account for your precious little ones or throwing that cash into an IRA for the kids.

--Start a Side Business: Many of the world's most profitable ventures were kicked off with less than a thousand-bucks!

--Invest in a Home Improvement Project: Planting a few trees or adding a programmable thermostat can save you thousands in energy costs.

--Open a "Car Replacement Fund": That bucket of bolts won't run forever, ya know. Save a few bucks when you can and you could pay cash for your next vehicle!

--Build a Square Foot Garden: It's the perfect season to plant and you'll save a mint at the grocery store by growing your own produce.

--Give It Away: The thought could be too selfless for most of us, but send that check to charity and you'll probably get a fat deduction next year.

--Pay Extra on Your Mortgage Balance: This one is a no-brainer. Although that big year-end deduction may seem tempting, saving three-thousand on taxes can equate to paying tens of thousands more to your mortgage company!

--Get Your Will Done. Yep, you may have to hand your precious cash over to a lawyer but it's simply a necessity --especially for parents.

--Purchase a Gym Membership: Money talks, baby! Chances are you'll get a month or two free if you pay up front.

--Take a Class: Always wanted to speak fluent Arabic or cook like JULIA CHILD? Use this opportunity to invest --in yourself!

--Go on a "Paid-For" Vacation: Blow the bank away from home. You'll probably enjoy your jaunt a lot more knowing there's no ugly bill after your week in paradise has come to an end.

--Create a "Car Insurance Savings Account": If your deductible is a mere $250 you could reap some financial benefit by raising that number to $1,000 --just make sure you save the money and earn some interest while you're at it.