The average American tax refund is higher. Here’s how you can use it to build long-term wealth

Quick Summary:

If one cannot tolerate volatility, they might want to consider doing something else with the money like paying down debt,” Doyle says.

A survey from TaxSlayer finds that over three-quarters of Americans plan to use their refund for necessities, like rent, groceries, and credit card debt.

After establishing an emergency fund, a tax refund can also be used to make substantial progress toward paying off debt like credit card balances or car loans.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Preston Fore

Category: EconomyBusiness

Markets: United States

Topics: Personal Finance Money Taxes Wealth

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-21 @ 09:05:00 (23 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 963 words

Reading Time: 6 minutes read

Sentences: 5 lines

Sentence Length: 193 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27211058

View Article Analysis

About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 57 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #95

Publisher Details

Frequently Asked Questions