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Kimberly Palmer: How to use a tax refund to fight inflation
If inflation has eaten away at your budget the way waves erode a beach, then your tax refund might just provide a much-needed protective barrier. At the same time, just over half of filers (55%) are expecting tax refunds for the 2022 tax year, with an average expected refund of $2,205, according to the 2023 Nerdwallet Tax Report. “Tax refunds are going to arrive at just the right time for many consumers this spring,” says Drew Wessell, a certified financial planner at Fiduciary Financial Advisors in Grand Rapids, Michigan.
