Sharing Daily Discoveries About Personal Finance And Business Topics

Promptness In Filing For Refunds

financial literacy

For myself if I know that I can get say $50 or even $5 from some kind of rebate for a purchase or a tax return refund I would want to do it right away as that is money that could be in my bank instead. So to me it is very surprising to hear so many people who presently don’t care about getting their tax refunds that are easily worth about $300 early. Typically, they would wait the very last minute instead.

Kind of weird as I bet if most people found even a dollar on the floor they would try to be the first to snatch it up right away. The only reason I heard that I can semi understand is how one person said if they get their refund early then they are inclined to just spend it. So, they would rather try to delay it as long as possible.

I guess the other explanation is that the fear of loss isn’t there as the thought is that it will always be there. The mindset should be more about how you can get more money now though I’d say.

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