Making the most of your tax refund

Crossposted from This column was originally posted online on April 5, 2016.

Each year at this time, many consumers receive the largest lump sum payment they will see all year – their income tax refund. This seems like it should be a “golden moment” to save. But for many people, making ends meet throughout the year is tough, and the tradeoff between saving versus other uses for the money can be difficult. This year, if any tax return money is left over, consumers should consider using a portion of it to build an emergency fund to cushion them against financial difficulties, or to start a nest egg.

A recent study by the Corporation for Enterprise Dev…
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