Are you among the millions of taxpayers who file their return at the very last minute? Are you now waiting anxiously, compulsively checking your mailbox and bank account, to see if you received your refund? Like many, you are probably playing over and over in your head what you are going to do with it when it finally comes. As the average tax refund last year was, according to the Internal Revenue Service, $3,120, you could do a fair amount of spending and splurging — or you could do the right thing, or things, by yourself financially.
"There are many questions to consider when you receive your tax refund this year, but all of your answers should lead you to putting your money toward paying off bills and debts first," said financial advisor Stacy Francis, president and CEO of Francis Financial. "No one wants to be in the 18 percent of Americans [who] have later regretted a purchase from their tax refund this year." To wit, CNBC.com takes a look at six ways to apply those "extra" bucks in 2016.
— By CNBC's Kenneth Kiesnoski
Posted 20 May 2016