Regardless of what your situation is, if you have outstanding consumer debts like credit cards or personal loans, the only sensible thing to do with your tax return is to work on getting out of debt. Period.

It’s really a no-brainer. Especially with all of the various credit card debt relief programs that are out there right now, getting out of debt is more possible than you ever may have realized. Did you know that many of these programs have even expanded to cover other expenses such as qualifying medical statements? It’s true, and many of them can get you out of debt for as low as 30-40 cents to the dollar you owe. Everyone’s situation is different, but they usually end up improving your credit score! There are lots of programs available; Help is within reach.

Think about your monthly budget. Hypothetically speaking, we’ll say about 30% of your income is going towards your rent or mortgage. 20% towards your auto loan. 20% towards old debts like credit cards. 10% monthly bills. 20% daily expenses like food, clothing and entertainment. If you add it all up, that means you have exactly $0 left over for yourself after all of that. I’m living comfortably, you might say. So what?

It’s possible, but what if you could eliminate your credit card debt. That’s 20% of your income that you could start putting towards the kids’ college fund, your own retirement or even traveling the world. Maybe you put the money towards your vehicle payment? Imagine being able to remove your credit card debts within, say, two years. With the programs out there today, it’s more than possible, even for men and women with tremendous debt amounts. It’s all about finding the right program and living responsibly, and using your returns on tax for debt relief.

Now that the old debts are paid off, imagine using that 20% towards your auto loan. What if you could have your vehicle paid off a year or two early? That becomes a very distinct possibility. With that extra 20% from credit cards and now 20% from the auto loan, that’s another 40% of your income you could be investing in your future, applying towards your mortgage or even using to upgrade your lifestyle. 40% of your income! You do the math. Now how much sooner do you get your mortgage paid off, assuming you aren’t a renter?

Make a budget and see for yourself if you don’t believe me. Taking these steps could see you freeing up 70% of your income by eliminating expenses. How much is 70% for you? Instead of using your tax return on that big new flat screen TV, find out about different debt settlement and relief programs that are available. Learn exactly what one of these programs can do for you. Just keep in mind, it doesn’t cost anything to look, so contact these companies directly and learn exactly how they can help you. Getting out of debt doesn’t have to be a dream anymore.