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Is a Tax Refund the Boon You Think It Is?
(StatePoint) A tax refund may sound like a boon, but financial experts say that you may be able to make more over the course of the year by checking your withholdings and putting any additional funds into a savings account over the
course of the year.
Those who received the average
refund in 2018, could see an addi- tional $282 in interest compounding over three years simply by putting the monthly sum into a savings account earning 2.20 percent all year
long.
Though changing your tax
withholdings is easy, three in four workers failed to adjust their with- holdings this past year, according to a recent Civic Science survey for Ally Bank, Member FDIC.
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