Finance Tip of the Day

Stay Away From Refund Anticipation Loans

  • 2018 31 Aug
Stay Away From Refund Anticipation Loans


Solution to Tax Refund Dilemma: Stay Away from Refund Anticipation Loans!

If you stick with your current strategy of getting your yearly tax refund, do not opt for the RAL (Refund Anticipation Loan). The interest rates on these loans can be as high as 200%! You could literally pay hundreds dollars on a couple thousand dollar loan. It’s better to wait for a week or a few weeks and receive 100% of your hard earned money!

Today's tip brought to you by Mvelopes and Money4Life Coaching.