Kimberly Palmer: How to put your tax refund to work for you

By KIMBERLY PALMER of NerdWallet

Most tax returns generate a tax refund, which means a lot of Americans are expecting to receive a windfall soon. The average tax refund last year was about $2,800. Saving for the next emergency and paying off high-interest debt are important things to focus on, especially given the strains from the pandemic on many household budgets. Inflation, rising interest rates and expired government programs add to that pressure. However, financial experts agree that using a small portion of your tax refund to indulge in a splurge is also a valid choice.