Money Minute: Why a big tax refund is actually bad for you

We’ve said it again and again, but with tax season coming to an end, we feel it’s important to reiterate: A large refund check is actually not a good thing when it comes to your finances.

If you receive a large refund, that means you’re paying a lot more in taxes than you should be.

Learn more in the video report above.

More reading on this

• IRS: Understanding tax withholding for individuals
• Business Insider: No, you don’t want a big refund, and 4 more tax myths you shouldn’t believe
• Forbes: You do not want a tax refund. Here’s why.
• CBNC: Here’s why you shouldn’t celebrate that big tax refund
• Psychology Today: Why do people like getting tax refunds?
• Investopedia: Explaining overwithholding

More tips: Money Minute section