The 5 Worst Ways You Can Spend Your Tax Refund
Much better options: pay down credit card debt, pay down other debts like car loans and student loans. Build up your emergency fund by buying I-bonds with your refund. If you've already received your refund, wait until May 1 (for higher rates) and buy I-bonds directly from the U.S Treasury. Check out: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
Current rates: 2.58% for bonds issued November 2017 – April 2018. Starting May 1 rates are likely to be higher because the Federal Reserve Board is raising interest rates as the economy recovers from the Great Recession.