8 Smart Things to Do With This Year's Tax Refund
As this year's July 15 tax deadline approaches, some Americans will be bracing for an IRS bill. Most, however, will likely be getting a refund.
The average refund this year so far has been $2,767, and given the number of people who are struggling because of COVID-19-related job loss, this isn't the year to let that money go to waste. Here are a few important things to do with that cash, especially in light of the current recession.
Under normal circumstances, an emergency fund with three months' worth of living expenses is acceptable. But because we're in a recession, there's a greater need for near-term cash, and so you're better off having six months' worth of essential expenses tucked away in savings. If you're not there, that's probably the single most important thing to do with your refund.
Source Fool.com
