If you are like most Americans you Uncle Sam will actually owe you back money this year for overpaid taxes in 2015. The IRS estimates that nearly 8 out of 10 Americans will get a tax refund this year. The average amount paid over the last few years was roughly $2,800, according to the most recent IRS data.
Don’t rush out and blow that tax refund on a car, new LCD TV, vacation or something else unnecessary. You should stop and think about where you can spend your refund and get the most benefit to your family. This would be a great opportunity to tie up some financial loose ends! Here are a few ways we think you should spend your windfall in order to get your life back on track!