In 2018, the IRS issued some 100,000,000 tax refunds. The average check was for just under $3,000.
For many people, a tax refund is an important part of their year, financially. People count on it and often use it to treat themselves in a way they otherwise would not. But there are good ways and bad ways to use a tax refund.
Even though it feels like new money, like a winning lottery ticket, remember that this is money that you worked hard for all year. And some of the best things that you can do it are boring – like saving it for an emergency or using it to pay off debt. Use the new funds to ensure that you and your family are more secure than you were before.
For more tax refund advice, check out the full article from CNBC here.