4 Reasons Why You Should Consider Using Your Tax Refund to Pay Off Student Debt
Tax season has a mixed effect on people. Some people dread it, while others look forward to it. On the one hand, doing taxes is a nuisance and it’s especially painful if you’re paying out of pocket.
On the other hand, it’s exciting to get a tax refund and think about how to put that extra money to use. Sometimes, a tax refund can be even bigger than a bonus or a paycheck, and without the income taxes.
In all, the IRS paid out $324 billion in tax refunds in 2018 . The average federal tax refund was $2,727. That’s a pretty good chunk of change.
If you are expecting a tax refund, it is worth your while to sit down and plan out what you want to do with the money. Otherwise, it might be too easy to spend the money just as fast as you received it.
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