What Should You Do With your Tax Refund?

A tax refund can give you a sudden influx of unexpected cash that you can use for a variety of purposes. But make sure you have a plan for the money, and don’t be in too much of a hurry to get your money by signing up for a refund anticipation loan or other product. “Generally this is a bad idea,” says Ben Wacek, a certified financial planner and founder of Wacek Financial Planning, LLC. “It's important not to rely on a refund for financial well-being, and so it's best to just be patient and wait for the refund.”