The grown-up advice is to put it towards debt and savings. The average taxpayer is getting a $2,852 refund, $75 more than last year, based on the most recent IRS data. So what should you do with that money?Experts generally advise putting it toward debt and savings, but, for many people, that’s unrealistic.A tax refund is typically the “biggest extra windfall of the year,” said Courtney Alev, consumer financial advocate at Credit Karma.“One thing we do see is a propensity to consider a tax refund something to splurge with.
Is Your Tax Refund ‘fun Money’? Here’s How Experts Say You Should Spend It
Associated Press, Fast Company
Fri, 05/10/2024 - 11:31am
Topics: courtney alev karma toledo ohio megan mcclelland petaluma california october public service loan forgiveness schulz alev i irs our garcia mcclelland experts spend tax refund fun money debt people put works travel refunded husband year card extra loans taxpayers free expense years student pay buy
BING NEWS:
- The IRS is making its free tax filing tool available to all
The Internal Revenue Service’s new online tax filing system will be available nationwide starting with the 2025 tax filing season.
05/30/2024 - 2:07 pm | View Link - The average tax refund so far this year is $3,125—here's why you should use yours to pay off your credit card
Latest data from the IRS shows that American taxpayers thus far are seeing an average refund amount of $3,125. While you may feel inclined to spend what feels like "free money" (it's actually ...
05/17/2024 - 6:55 am | View Link - REVEALED: The two most financially beneficial ways to spend your tax return
Experts suggest the two most financially ... The way the tax refund works in my mind is I can use it more for 'fun money,' she said. As of last month, the IRS had processed about 141 million ...
05/13/2024 - 1:00 pm | View Link - Your tax refund could be bigger this year. Here's what to do with it
So what should you do with that money? Experts generally advise putting it toward ... “The way the tax refund works in my mind is I can use it more for ‘fun money,’” she said. As of late last month, ...
05/12/2024 - 2:11 am | View Link - Average taxpayer getting bigger refund this year. Here's what to do with it
So what should you do with that money? Experts generally advise ... “The way the tax refund works in my mind is I can use it more for ‘fun money,’” she said. As of late last month, the ...
05/10/2024 - 2:47 am | View Link - More
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