Money TreeThe tax season is a time when the average American begins dreaming about making big purchases. They sit around for months pondering what to do with all the money coming in their refund.

While expensive vacations, stylish clothes and flashy cars may make one feel good in the moment, the realization that the money could have been better spent can put a damper on things in the long run. So, for those who want to use their refund check responsibly, here are the top three wise ways.

1. Buy Precious Metals
Gold and silver are two commodities that humankind has used for centuries to make purchases. There is little evidence that things will change in the lifetime of anyone reading this article.

Purchasing some ounces of gold and silver can be a wise way to put a portion of a tax refund to work. These tangible investments are physical properties in the form of coins and bars. A Miami tax preparer can help find out just how much of a refund to expect from the government.

With printed currency going through wild value fluctuations, it could be time to stockpile a little precious metal. These holdings can work as hedges against instability in the volatile currency markets.

2. Open an IRA
It is never too late to begin planning for retirement. A good first step is opening up an investment retirement account (IRA). These instruments provide an income beyond Social Security and pension plans during the golden years.

Basically, the owner makes deposits into the account and then begins withdrawing earnings after leaving the workforce. It is even possible to set up a targeted retirement date with the fund manager. Most experts agree that investing in riskier positions in the beginning and then switching to a more conservative strategy later is a smart move.

There are maximum limits on deposits. Covering this entire amount at one time with the tax refund is a good decision.

3. Pay Off Credit Cards
High-interest credit card debt is something that consumes a large part of most household budgets. Paying off the balances of these albatrosses is an intelligent way to use a tax refund. With the extra disposable income each month, it could then be possible to focus on other investment priorities.

The time to get started on the road to financial health is now. Putting the tax refund to good use is essential. Finding qualified accounting services in Miami is probably the best way to ensure success.