Pay day is here, thanks to the IRS! While the average tax refund decreased by 8.7 percent compared to last year, some people still got a large chunk of change – an average tax refund of $1,949.
Consider spending your refund wisely, especially as tax laws change.
– Start an emergency fund or pay off your highest-interest debt. Don’t put it in your checking account.
– Invest or put it toward something you’ve been saving for. Don’t buy something you don’t need.
– Pay it forward by donating it or give yourself a small reward – aim for 5-10 percent total.
– Robin Rectenwald, The Pittsburgh 100