In the past week alone, I’ve had:
- one former client,
- two CFO clients,
- and a participant inside Profit in Practice
all ask me the exact same question:
“April… where should I put my tax return?”
One of my former clients laughed and said,
“You’re going to turn this into a newsletter, right?”
So here it is.
Because this question sounds simple on the surface.
And underneath it is usually years of tension around money.
The knee-jerk reaction with any financial windfall is to put all of it into one bucket.
Usually debt.
Sometimes retirement.
Occasionally savings.
Whatever feels the most “responsible.”
And mathematically?
That logic works.
Behaviourally?
Not always.
Because here’s what I see happen over and over again:
Someone puts the entire tax return on their line of credit.
Then two months later:
the kids’ activities come due,
summer vacation gets booked,
the car needs repairs,
or life simply happens…
…and the credit card balance climbs right back up again.
Not because they’re irresponsible.
Because they’re human.
This is why I teach something I call the Wealth Wheel.
Any financial windfall gets divided into thirds.
1/3 goes to the Past:
This is debt repayment.
Credit cards.
HELOCs.
Taxes owing.
Anything connected to old financial decisions that still need cleaning up.
1/3 goes to the Present:
And this is the category most people skip.
The family vacation.
Kids’ sports.
A purpose fund.
Something meaningful today.
Something that lets your brain experience money as supportive instead of restrictive.
Spent guilt-free.
Because when people ignore present needs completely, those expenses usually don’t disappear. They usually show up later as new debt. Or they get pulled from savings.
And finally:
1/3 goes to the Future
Emergency fund.
Retirement.
Investments.
Future security.
The reason this system works so well is because it acknowledges all versions of you at the same time.
Your past self.
Your present self.
And your future self
Most financial advice only speaks to one version.
And then people wonder why they can’t stick to the plan.
Money systems become sustainable when they include both mechanics and behaviours.
Because your brain needs evidence that money can create safety AND enjoyment.
