Is your tax refund ‘fun money’? Here’s how experts say you should spend it

May 10 2024 by Fast Company

The grown-up advice is to put it towards debt and savings.

The average taxpayer is getting a $2,852 refund, $75 more than last year, based on the most recent IRS data. So what should you do with that money?

Experts generally advise putting it toward debt and savings, but, for many people, that’s unrealistic.

A tax refund is typically the “biggest extra windfall of the year,” said Courtney Alev, consumer financial advocate at Credit Karma.

“One thing we do see is a propensity to...

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