Financially conscious People knows about their Tax Refund

Expense management is a burden for everyone to some extent, but once a year we're blessed with sweet relief in the form of a tax refund. According to IRS survey data published by the Pittsburgh Post-Gazette, the average federal income tax refund for individual Americans is around $3,000.

The problem is that $3,000 isn't free money - it was part of Americans' income to begin with. That's a $250 withholding per month - a significant amount, according to Gail Cunningham, public relations manager at the National Foundation for Credit Counseling.

"If you have an extra $250 a month, it could be the difference between financial stability and financial distress," Cunningham told the Post-Gazette. "Many people who receive an income tax refund don't realize that Uncle Sam is simply giving them back their own money, without benefit of interest."

Since income tax refunds are simply one's own money, it's best not to do anything too extravagant with the new found cash. Tax refunds significantly ease the expense management burden for everyone. But smart spenders know better than to get carried away.