Like most people, after filing taxes, you’re definitely looking forward to getting your tax refund. Plus in 2026, recent changes, such as a higher standard deduction and child tax credit, are expected to increase the average federal refund for 2025 taxes by as much as $1,000.
So what should you do with any potential extra money you receive? Unless you need to use it for immediate expenses like rent or bills, consider a plan to spend your refund wisely. Here are six clever strategies to help you maximize your tax refund.
1. Pay off or pay down debt
Living with debt is stressful, whether you have high-interest credit cards, student loans, car loans, buy-now-pay-later services, or unpaid medical bills. The average consumer debt…
