00:00Doing your taxes every year is always, always a pain that I procrastinate and delay as much as I possibly
00:06can.
00:06Even in years where I made so little money, I actually get a whole bunch in return.
00:11And you can't deny that getting those returns feels good,
00:14but you gotta be careful not to spend it on something reckless just because you get impatient.
00:19Like putting your return money on a prepaid debit card.
00:23Some tax preparation companies will offer you a check with your estimated return amount on it,
00:28but remember, this is a loan that does not cover tax preparation fees.
00:33According to the Consumer Financial Protection Bureau,
00:36you're basically paying fees to delay paying tax preparation costs.
00:41Spending your refund money on something you can't afford otherwise?
00:45While it does feel like a bump in your checking account, it doesn't truly reflect your income.
00:50You're still making the same amount you were before,
00:52so be careful not to get yourself in debt over a fancy car or house.
00:57Be smart about your tax return.
01:00Money Talks News says that there are a lot of smart uses for a tax refund,
01:04but sadly, just as many terrible ones.
01:07It's easy to want to spend the money once you have it.
01:10The trick is to take a moment and think twice about where that money ultimately ends up.
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