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13 worst things to do with your tax refund

GOBankingRates Logo By Caroline Banton of GOBankingRates | Slide 1 of 14: People typically don't want to pay more taxes than they need to, but a tax refund implies just that. Withholding more money than necessary each paycheck means that an individual forgoes the opportunity to earn interest on that money elsewhere. Approximately 77 percent of taxpayers receive a tax refund, according to the IRS.Furthermore, some of the most popular ways to spend tax refund money can easily turn into some of the biggest tax refund mistakes. A recent GOBankingRates survey revealed several popular uses for tax refunds that can boost your financial well being, or work against it. Click through for 13 of the worst ways to spend your hard-earned tax refund check.

Worst things to do with your tax refund

People typically don't want to pay more taxes than they need to, but a tax refund implies just that. Withholding more money than necessary each paycheck means that an individual forgoes the opportunity to earn interest on that money elsewhere. Approximately 77 percent of taxpayers receive a tax refund, according to the IRS.

Furthermore, some of the most popular ways to spend tax refund money can easily turn into some of the biggest tax refund mistakes. A recent GOBankingRates survey revealed several popular uses for tax refunds that can boost your financial well being, or work against it. Click through for 13 of the worst ways to spend your hard-earned tax refund check.

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