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.
Thanks for giving ways that an individual may apply to spend their tax refund.
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You've got a point as to backing up a friend's venture, but investing in something more promising is quite an option. I liked how Richard Parker covers this topic. There are always ways to make it less risky and more likely to work out.
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