Financial expert Suze Orman warns that receiving a tax refund signifies a poor financial decision, as it represents an interest-free loan to the government. Many people mistakenly view tax refunds as free money, but in reality, they indicate that an individual has overpaid their taxes throughout the year. Orman suggests adjusting withholdings to increase take-home pay, allowing individuals to use that money more effectively each month, potentially alleviating financial burdens and improving overall financial health.
Getting a tax refund means you've given the government an interest-free loan, which is not a good financial strategy.
Most people perceive tax refunds as free money, but in reality, it reflects overpayment throughout the year.
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