Your tax refund is not free money

I know people who are bragging that they are getting back large refunds. I know one person who brags that he is getting back $8,000. During the discussion, another claimed that her and her husband are getting $14,000. I was incredulous. That money is not free- it means that you had too much money taken out of your checks throughout the year. If you file your taxes, and you are getting back 14 grand, that means that you could have $1,100 a month more in your pocket every month.

What gets me is that these people probably have a couple of maxed out credit cards, and could be using that money each month to pay off the 20% interest rate cards.

This year, I will owe $350 or so. That is as close as I can figure them when I set my W4 exemptions each month.