In today's economy it seems our tax returns can't get here fast enough. Who doesn't love a little extra cash in their pocket? Here are some small suggestions that will help yield large returns.

1. Pay down credit card debt. By decreasing your principal, your interest payments will also lower, leaving a little more breathing room at the end of each month.

2. Place money in a savings account. If you've been eyeing travel brochures or checking price drops on that 50鈥� flat-screen television, putting a portion of your tax return into a savings account will help you reach your goal faster.

3. Make a donation. The rising costs for everything from food to transportation around the world mean that non-profit organizations and charities working in developing countries are also feeling the pinch.

4. Service your car. Cars always need repairs at the most inconvenient times. Repairs can be very costly and be a large burden if funds are not ready available. Servicing your car with your tax return is a proactive way to avoid these irritating repairs. This is not to say you will not run into trouble, but perhaps this tune-up will help to prevent unexpected costs later on.

5. Splurge. Use a portion of your tax return to reward yourself for all the hard work you have done all year long. Updating your wardrobe or purchasing a new toy will help you feel great and inspire you to behave until next year's tax return.

While these tips may seem simple, each will yield large returns. Planning before spending will allow you to do the most with the money you receive.

鈥� News Canada