VisionBank of Iowa

Service Notice: All VisionBank locations will be closed on Wednesday, June 19th in observance of the Juneteenth holiday. You can still take care of your banking needs through VisionBank Online, your mobile app, or by stopping by any of our conveniently located ATMs.

Alerts and News - 2018 Archive

What If I Really, Really Need My Tax Refund?

“I really need my tax refund, to cover bills and pay down debt. How can I get it as fast as possible?”

The average individual tax refund was $2,895 in 2017, according to the IRS. I understand why you’d want so much money in your hands ASAP: For the typical American, that would cover rent for about three months, or a car payment for almost six months.

The problem? If you don’t spend it strategically, you could be back in the same position by St. Patrick’s Day. The issue isn’t that you want your tax refund now. It’s that you need it now.

Read More about What If I Really, Really Need My Tax Refund?

Tax Refund Predators Are Waiting

People who don’t have much money during the rest of the year can become big targets during tax refund season.

For those living paycheck to paycheck, tax refunds — which average around $3,000 — may be the largest chunk of unobligated cash they see all year. Retailers hope to get some of that money, but so do debt collectors, buy-here-pay-here car lots and purveyors of interest-free loans that come with fat fees. People flush with cash need to proceed with caution

Read More about Tax Refund Predators Are Waiting
© 2024 Vision Bank of Iowa. All rights reserved.