I agree completely with poundwise!
It baffles me now that I have converted from the big refund ways I thought was so wonderful in the past. We used to get $9k/year from uncle sammy and I was delighted to do my taxes asap.
If I lacked spending discipline then the refund would be my bailout, perhaps as long as I didn't overspend it.
Have money taken from your paycheck and deposited into a savings acct with a decent interest rate and you still have your money if needed. Biggest benefit is you don't have to wait until late winter to access your emergency fund, because that is how many people treat the refund. It is an emergency fund to pay off debt accumulated throughout the year.
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