Are refunds bad?

Is that a typo – – is there really a reason why you would not want Uncle Sam to give you some of your hard-earned money back each year?  According to a recent poll, over half of Americans say they intentionally plan to get a refund each year.  However, there are reasons why this is a bad idea.  For one, you are giving the government an interest free loan by letting it use your money all year long.  In addition, if you are taking out high interest loans to help pay the bills, you are not only letting the government use your money you are paying someone else to use theirs.

For more reasons why you should avoid getting tax refunds read, “5 Reasons Receiving a Tax Refund Actually Stinks.”

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