The Motley Fool recently published a post titled: "Getting a Tax Refund? Here's Why That's a Bad Thing".
Following are a few points from it.
- Don't let fear hold you back: That fear might be hurting your finances. Instead of paying down your credit cards you are overpaying taxes. Imagine how much richer you could be if you invested that money.
- Avoid temptation: Large tax returns tempt the best of us to spend it on vacations and large purchases. In reality, had you been getting that money in your paycheck all along, you could've found a more responsible use for it