CHICAGO (WLS) --Tax season is officially upon us! Filing day in the United States is April 18, 2017. The average 2016 tax refund was $2,860. So what should you do with all that cash? Going on a shopping spree may be fun, but moving your money strategically can really pay off in the long run.
Some strategies include reducing your high interest debt, put money into your emergency fund, add to your child's college accounts, pay down student debt, build itemized savings accounts, donate to charity, or invest in yourself. Kathy Roeser, managing director and wealth advisor with Morgan Stanley in Chicago, sat down with Eyewitness News to discuss the many ways to utilize your tax refunds.