Why you should put your 2023 tax refunds in a savings account

Now that the tax season is behind us, seven out of 10 Americans are waiting for the fun part: the arrival of their 2023 tax refunds. It’s always best to either save the money or use it to pay off debt, rather than use it as an invitation to treat yourself. However, this year more than ever, there’s a clear reason to put your tax refunds directly into a savings account.