With Tax Day only a month away if you haven’t already filed your taxes, you’re probably thinking about it. According to the IRS, of the 48 million tax refunds processed through the end of February, the average tax refund was $3034. That’s a pretty healthy amount of money!
Finance experts argue that with such a large return, you are doing yourself a disservice throughout the year by reducing your take home pay and giving Uncle Sam an interest free loan all year long. I’m of the opposite mindset since I’d much rather get a tax return than learn that I owe the government thousands of dollars. Having been there and done that, I’d never like to do it ever again.
With that said, short-changing yourself all year especially when you might actually need the money is not a good idea. Need some convincing? Check out the video below.