Many of us look forward to income-tax-return season because we want that big income tax check.

We expect to get a big return on the amount of taxes we’ve paid the past year. We want to spend that check on things we’ve wanted but weren’t sure if we could put money aside for.

However, it’s wise to spend that income tax check in a smart manner. Whether that’s putting it away, investing it in your future, or spending on responsibilities we need to get caught up on, using that money smartly is the best option for using that income tax check.

Save it for retirement

If you’re comfortable enough to put that money away, do so. You always hear about how wise it is to save and plan for retirement, so if you can, why not put that income tax check away for later use? Sure, there might be a new gadget or new TV, iPad, or form of technology, maybe even a new outfit or piece of furniture that you’ve wanted, but perhaps it’s better to put that income tax return away.

Putting it away, especially if it’s a large amount, takes some pressure off your paycheck in terms of trying to save for retirement. Even if you just put away a percentage of it, you’ll be glad you did later on. You could perhaps spend a small portion and put the rest away, think a 30-70 rule (30 percent spent, 70 percent saved), or you could reverse that. As long as you’re putting some of it away to use later, you’ll thank yourself.

Put it in a rainy-day fund

You’ve also heard how smart it is to save for rainy days, or life emergencies. You don’t know when a time will come that you’ll need emergency funds, but using tax return money is a smart way to plan for that, especially if you’re not that great at putting money away for that currently.

Again, putting away tax return money in a fund like that will take pressure off of you to put more of your paycheck away. Again, as long as you’re putting some of it away to save for that rainy day, you’ll be glad you did. Shoot for putting about 20 percent of that income tax return away for these purposes. If you can, shoot for 25 to 30 percent. It seems like a lot, but again, when those rainy days come, you’ll be glad you did.

Income tax check going to bills

Ah, we all hate them, but we all have them. Using your tax return wisely includes using it to pay bills. Perhaps you’ve got overdue bills that you’re not sure how you’re going to pay, but you can use that tax return to help alleviate those burdens.

Perhaps you’ve got a good handle on your bills, and if you do, congratulations, and you just want to pay ahead on some debts that you can pay ahead on. Again, it’s wise to put your income tax money toward those bills. If you’re in a position where you can use that tax return to alleviate bill pressures, that again frees up more of your paycheck for other uses and for things that you want to use your money on.

Paying bills is a necessity, and even though it’s not a fun use of extra funds, using your income tax return for paying those bills that you can either pay further down on ahead of time or that you may need some help with is a move that your wallet and your savings and checking accounts will thank you for later.

Closing thoughts

Best wishes to you as you get those tax returns done and await that return money. We hope you see a return and don’t owe any taxes. If you happen to see a big return, or even just a moderate return compared to other returns you’ve had, look to use it wisely in some way, even if that’s just putting away a portion of it for later needs or paying down bills with a portion of it. It’s yours to use how you want, but it would be wise to use it to benefit you in the long run.