eBay Inc (EBAY), General Motors Company (GM), Ford Motor Company (F): Will You Buy a Car With Your Tax Refund?

Better ideas for your tax refund
Still, I was surprised by the number of people who are getting four-figure tax refunds, and by the number who plan to spend four-figure chunks of those refunds on car-related purchases.

Let’s face it: If you’re getting a big tax refund, it probably means you overpaid. In effect, you gave the government an interest-free loan. Going forward, it’s probably best to adjust your withholding so that you keep more of that money for yourself every month. If you like the idea of having a nice sum of money every spring, you can set up a plan to save or invest those additional dollars.

But if you are getting a big tax refund this year, and you haven’t decided what to do with it yet, check out these good-sense ideas from my Foolish colleague Nicole Seghetti. She’ll help you figure out how to get the biggest bang for your refund bucks.

The article Will You Buy a Car With Your Tax Refund? originally appeared on Fool.com.

Fool contributor John Rosevear owns shares of Ford and General Motors. Follow him on Twitter at @jrosevear. The Motley Fool recommends eBay, Ford, and General Motors and owns shares of eBay and Ford.

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