Your Tax Refund is Not a Bonus

Some people think of tax time as a bonus shopping spree. With all the “tax ” sales and promotions that retail and media outlets bombard us with, it’s easy to understand why getting money back from a may seem like free money. However, it’s really not.

When you break it down, you’re really just getting your own money back. Throughout the year, you’ve paid more than your share of , and the government is making good on what is, essentially an free loan that they’ve borrowed from you.

Basically, you’ve stored money in an account which does not earn any interest. It’s like putting in a jar. So really you’re just celebrating getting your own money back. Tax refunds are not bonuses, but a return of your overpayment in taxes.