Thursday, January 31, 2008


Here's a coupon for $25 bucks off of an H & R Block tax prep for a new client.

I've seen those commercials for the "Refund Anticipation" pre-paid debit cards. I can't imagine any situation other than desperation that would warrant someone getting one of those. First of all, you pay fees on this, so you lose a small portion of your refund. Second of all, putting your tax refund on pre-paid debit card is ridiculous. If you need the money that bad, you should be withholding less and stop giving the government an interest free loan. Putting the money on a debit card is just guaranteeing that you will spend it sooner. It won't earn any interest and won't stand a chance of being put away.

Unless you really, really need it, sock that refund away. Put it in a retirement fund or a savings account that you don't touch. If you feel the need to treat yourself, take up to half the money and blow it on a cool gadget or whatever it is you'd like, but put at least half the refund away and feel good about it.

Pretty soon, refunds will all be issued electronically, directly into your designated bank account. Hopefully that will do away with "Refund Anticipation" ripoff loans.

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