Skip To Main Content
File for $0
Sign in
  1. TurboTax /
  2. Tax Calculators & Tips /
  3. Tax Tips Guides & Videos /
  4. Tax Refund /
  5. Smart Strategies for Using Your Tax Refund [Infographic]

Smart Strategies for Using Your Tax Refund [Infographic]

Updated for Tax Year 2021 / November 9, 2021 09:44 PM

OVERVIEW

According to the IRS, the average federal tax refund for personal tax filers was $2,827 in tax year 2020. While it might be tempting to see this extra cash as a chance to splurge, consider using it to improve your finances.

All you need to know is yourself

Answer simple questions about your life and TurboTax Free Edition will take care of the rest.

For simple tax returns only

$0*
State additional
Start for Free

100% FREE fed & state, PLUS a free expert review with TurboTax Live Basic.

For simple tax returns only. Must file by 3/31.
Offer details

$79$0*
State included
File for $0

Looking for more information?

Related Articles

Where's My Tax Refund? The IRS Refund Timetable Explained

How to Check Your Tax Refund Status

Best Investments for Boosting Your Tax Refund

Do the Math: Understanding Your Tax Refund

Top Reasons Your Tax Refund Could Be Delayed

More in Tax Refund

Can You Check for Unclaimed Tax Refunds?

Last Chance to Claim Your Tax Refund

Will the IRS Keep My Refund if I Didn't File My Taxes Last Year?

Tax Law Changes in 2020 That Can Fatten Your Refund

Smart Strategies for Using Your Tax Refund [Infographic]

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.