The problem with that large tax refund
By Jennifer Goforth Gregory
I excitedly told my father that I was getting a large tax refund, expecting him to be as happy as I was. I was 22 years old. I had been working at my first professional job for less than a year and struggling each month to pay rent. To me, the $4,500 IRS check headed my way was the equivalent of winning the Powerball lottery.
But instead of being happy for my windfall, my father, who has worked his entire career in the financial and banking industries, gave me a gentle but firm lecture about how I had given the government an interest-free loan on my money.