Alright /biz i need some advice. Im a hard working individual stuck in the reataurant business making 10.50 an hour and have a wife and 2 kids. I fucked up by not going to college and learning useful shit and making something of myself. I live paycheck to paycheck always struggling to make ends meet.
Tax returns are right around the corner and instead of blowing it on stupid shit like alot of other people, i want to know what i can do with it to actually make more money.
Long story short, how to do i take 7k and actually make money with it. I have a family to take care of and this average joe job shit with average pay aint doin it
use tax return to buy tools
eventually buy a used pickup truck
put adds on craigslist and put out flyers in the neighborhoods that you go to
use electric hedge trimmer to cut people's hedges
mow grass, build raised beds etc.
Basically start your own business.
Ok, honest response. The first thing you need to do is not be living paycheck to paycheck, that is an absolute DISASTER mentally and financially. That tax return needs to go into an emergency fund. Not a 'I feel like a coffee fund', not a 'surely we can afford that cable package now we got our tax return' fund, an -emergency- fund. Car breaks down, insurance comes due and you're flat broke, that sort of thing. This gives you some breathing room so you're not constantly scrounging for money and worried that you'll overdraft which is invaluable.
Oh, and obviously if you have outstanding credit card debt then that shit needs to be paid down ASAP as well, just leave like a grand of it in your emergency savings and pour the rest into your debt.