By the first of May you have either received your tax refund or are checking every day to see if it has been deposited to your account or is in your mailbox.
If you have not decided on how to use the refund, here are some suggestions on how to take advantage of this money. You will note that “spending’’ is not the first option offered.
Save It
It is estimated that 71 percent of Americans have a savings account. If you are among that group, you can add the refund money to it. Unfortunately, because of extremely low interest rates over the past two years, savings accounts do not accrue much, if any, interest. If you just want to put it into an account for safekeeping, use a savings account as a possible repository.
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