Kimberly Palmer: How to use a tax refund to fight inflation
By KIMBERLY PALMER of NerdWallet
With prices rising on everyday items, consumers can use their tax refunds — which just over half of filers expect to receive — to offset some of those higher costs. Financial experts recommend using refund money to pay off high-interest debt, shore up savings, fund long-term goals, invest in home upgrades and create additional income streams. Splurging on a few relatively low-cost pleasures can also be a good idea. Taxpayers receiving sizable refunds might also want to consider adjusting their withholding so they receive a bigger paycheck all year long instead of a lump sum at the end.
