Spending your tax refund

Daniel Gutierrez

Spending your tax refund

CREATED Apr. 24, 2013

Tax season is finally over. So do you know what you're doing with your refund?

According to the IRS, the average refund is almost $3,000. Smartmoney Magazine suggestions you create an emergency fund, to help pay six months of bills, if you lose your job. 

It's also suggested you pay off some of your debt, like any credit card with an interest rate above 20 percent.

No surprise, credit card comparison site Bankrate says, the worst thing you can do is spend it on a big night out with friends, or at the casino.