Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

5 ways your tax refund can improve your financial well-being

(BPT) - Tax season is more than just a deadline. It's an opportunity to take control of your finances and plan for the future.

Your refund can be a powerful tool to build and strengthen your financial foundation. However, your results will depend on how you spend that refund. It's important to set clear goals and implement strategies to set yourself up for success.

CreditOne Bank - one of the fastest-growing credit card issuers in the U.S. - is here to help. Check out its five expert tips that can help you make smart financial choices and feel confident about managing your refunds wisely.

1. Cover the essentials

Before using your refund on anything else, look at your essential expenses. For example, if you're worried about paying for groceries, utilities or other fixed expenses, these bills should be your top priority.

For everyday purchases, consider using a rewards credit card and then using your refund to pay off the balance immediately. A card like the Credit One Bank Platinum X5 Visa helps you earn cashback on purchases - allowing you to maximize your money while staying on top of your bills.

2. Pay down debt

Using your refund to reduce debt is one of the smartest financial moves you can make. Paying off outstanding credit card balances can save you money on interest and even boost your credit score. If you have a mortgage or student loans, consider making an extra payment to lower your principal balance and reduce future interest cost.

3. Plan for big expenses

Have you been putting off a major expense because of the cost? Your refund can help you cover necessary purchases - like home or car repairs - before they turn into even pricier problems. Taking care of this major expense now may help you prevent even more expensive repairs in the future. Just like your everyday expenses, using a rewards credit card and paying it off with your refund will allow you to afford the repairs and save. So, when you use it to pay for your car repair, you can earn cashback to spend in the future or points you can use to fund little luxuries.

4. Grow your savings

A financial cushion can help you handle unexpected expenses without relying on credit. Consider putting part of your refund into an emergency fund so you're prepared for the unexpected.

Pro tip: Keep this savings in a separate account from your regular checking and savings to avoid the temptation of dipping into it for everyday spending.

5. Treat yourself

After taking care of your financial priorities, it's okay to set aside a small portion of your refund for something fun! Whether it's a new outfit, a spa day or a weekend getaway, rewarding yourself can reinforce the benefits of making smart financial choices.

Invest in your financial well-being. You're worth it.

Whether you're paying down debt, covering essentials or building your savings, a well-thought-out plan can make a big difference. By following these five tips, you can use your tax refund to boost your financial health and set yourself up for success.

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