Bank like a financial pro with the Alliant mobile app. Make payments, deposit checks, manage cards and so much more.
Renovate your kitchen, pay off high-interest debt, or have access to emergency funds when you need it with an Alliant Home Equity Line of Credit.
Browse new and used vehicle inventory, and qualify for a rate discount when you buy!81
Separate each of your savings goals into an Alliant Supplemental Savings Account so you can visualize your progress.
Discover how an award-winning banking experience could be your next little win.
Logo courtesy of CNBC
By Paul Brucker
Did you or will you get a tax refund this year? If so, you’re among the 67% of Americans who expected to get a refund check. This year, 149 million U.S. citizens filed individual income tax returns and the average refund was $3,034, up 3% from last year, according to the IRS.
Here’s how Americans plan to use all or some of their refund this year, according to a survey by Prosper Insights and Analytics.
Financial experts have various ideas on what is the smart way to use a tax refund. For instance, Mary Randall, professor of finance at Rider University, says: “I tell my students that before you put anything in stocks and bonds, one of the best investments you can make is pay off your credit card debt… unless there’s something else incredibly important that you need to spend the money on.”
Bottom line: how to use your refund is up to you.
Meanwhile, do you perceive your refund check as a financial windfall? Many consider the refund as a lifeline to help them take care of financial business or finally buy an item they’ve been saving for.
Others consider the refund as essentially money you’ve been giving Uncle Sam as an interest-free loan. They point out that the average refund this year of $3,034 is more than a month’s worth of income for most Americans and amounts to $250 a month in taxes needlessly withheld from a person’s paycheck. The alternative: Gain more financial power by adjusting your W-4 tax withholding to increase your take-home pay. If you’re interested in exploring this option, try out the IRS withholding calculator.
Not everybody, of course, gets a refund. The IRS netted over $950 billion in income taxes. How should the government use that money? U.S. taxpayers say the top priorities are public education, healthcare and job creation, according to a survey cited by cnn.com.
Sign up for our monthly newsletter to help you stay at the top of your financial game.
Welcome! You'll now have financial tips sent to you directly each month.
You are leaving Alliant’s website to enter a website hosted by an organization separate from Alliant Credit Union. The products and services on this website are being offered through LPL Financial or its affiliates, which are separate entities from, and not affiliates of, Alliant Credit Union.The privacy and security policies of the site may differ from those of Alliant Credit Union.
You are leaving an Alliant Credit Union website and are about to enter a website operated by a third-party, independent from Alliant Credit Union. Alliant Credit Union does not manage the operation or content of the website you are about to enter. Alliant Credit Union is not responsible for the content and does not provide any products or services at this third-party website. The privacy and security policies of the site may differ from those of Alliant Credit Union.