this post was submitted on 27 Nov 2023
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When we were poor, we looked at it as a sort of yearly savings account. We weren't so poor that we couldn't afford to have taxes taken out, so it worked out pretty well. Every time we got our refund check, we were able to do something like get the car fixed.
But you can save that money yourself, earn interest on it, and have access to it should you need it. I think it's the "have access to it" part that messes up most people. It's damned near impossible to save money when you're poor.
It's hard to save it when you have it in your pocket and interest is irrelevant if you spend it all within a year.