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Suze Orman emphasizes the importance of planning for tax refunds, which have increased significantly this year, averaging around $3,500. With new deductions from the One Big Beautiful Bill Act contributing to this rise, many families may find themselves with a substantial lump sum. Orman warns that without a clear plan, these funds are likely to be squandered on non-essential purchases, especially in a time of economic uncertainty.
For small business owners, Orman's advice is particularly relevant. The temptation to use a tax refund for immediate gratification can be strong, but her strategy of earmarking funds for upcoming expenses is a prudent approach. This not only helps in managing cash flow but also reduces financial stress over the long term. As businesses navigate rising costs and economic challenges, having a solid plan for unexpected income can be a game-changer.
“Orman says your tax refund needs a plan before it hits your checking account.” — TheStreet
Takeaway: Plan your tax refund wisely to avoid impulsive spending and reduce future financial stress.
Excerpt from the original — TheStreet
The average federal tax refund this filing season has climbed to roughly $3,500, representing a jump of more than 10% compared with the same period in 2025, according to IRS data.New deductions introduced through the One Big Beautiful Bill Act, including breaks on tips, overtime, and auto loan interest, have pushed refund checks higher for millions of households across the country.For many families, that refund may be the single largest lump sum they receive all year. The temptation to spend it on wants rather than needs is strong, especially after months of rising gas prices that have squeezed household budgets from coast to coast.Suze Orman, the bestselling author and longtime personal finance advocate, is not interested in letting you waste the opportunity. She has a specific warning for anyone expecting a check from the IRS, and it starts with one word you may not want to hear.Orman …