Tax returns are expected to be 29% smaller this year, according to the IRS’s preliminary data ahead of the 2024 tax season. Furthermore, nearly 70% of Americans affirm their tax refunds are vital to maintaining their financial security.
Self Financial Head of Community Monique White joins Yahoo Finance Live to discuss the best saving strategies, including how to reinvest tax returns to build wealth this tax season.
“If you are living paycheck to paycheck, you’re struggling with your monthly essentials, and managing your debt, what that tells me is every dollar counts. It may be a good time to look at your W-4 and adjust your holdings so you can have more money up front to manage those things,” White explains.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor’s note: This article was written by Luke Carberry Mogan.