5 Unique Things You Can Do to Invest Your Tax Refund

By on April 14, 2013

That fat tax return check just hit your bank account. While you could put the money towards a new car or another fun purchase, you could also choose to invest the money. That doesn’t mean you need to invest in the same old things. There are a number of creative ways to invest your tax return. Whether you want to create a form of passive income or invest in a small business, you can do some pretty unique things.

Hire Writers for a Self-Help Book

Self-help books are huge. They’re one of the biggest ebook sellers, but that doesn’t mean you have to know how to write a good book to invest in this passive income. Instead, why not invest your tax refund into hiring writers to write the book for you? For $1500 to $1800, you could put together a 30,000 word self-help book and publish it on Amazon, Smashwords, Barnes & Noble, and other ebook outlets. You won’t see your money come back to your immediately, but if the book sells for $2.99 and you retain 70% of the profit, you’ll begin to see a profit after the first 3200 to 3500 books sell.

Lend the Money Through Social Lending

Social lending has become a huge business for many individuals. If you’ve got the money to lend, you could see a nice profit. Depending on the options you choose, you could see a huge return from this investment, but like other investments, you take a gamble. Still, if you’re willing to give it a shot, it could be profitable.

Invest in Your Blog or Website

Do you have a blog or website that hasn’t really taken off? Invest your tax return in this venture. You might hire an SEO specialist to help you improve your search engine rank or you may hire writers to create appealing content. You may even hire a web designer to improve the look of the website or purchase a custom domain name. The possibilities are endless.

Learn a New Skill

If you really want to invest in your future, use your tax return to learn a new skill. You might choose to earn a certificate at your local community college, attend personal enrichment courses, or even invest in books to help you learn at home. If you know how to do a skill, but just need the equipment, you could also invest in the equipment.

Pay a Graphic Designer for Images to Use on Products

Last, but not least, you could spend the tax refund on graphics that could be used on t-shirts, mugs, backpacks, etc at companies like CafePress. This is a one-time investment that will allow you to make money for years to come.

Do something important with your tax refund this year. Don’t spend all of that time on your federal income tax forms to just throw the money away on a frivolous purchase. Instead, invest the money so that it grows into something much larger. Best of all, many of these investments can be written off your future taxes.

About Nicole Keller