The average tax refund is around $3,000; that’s a nice chunk of change! However, it’s a dilemma every year for many folks. Should you invest it? Should you enjoy it?

While there are several good ideas on how to put that money to use, let’s look at several things that it’s best to avoid:

3. Create more debt.

This is one the worst things you can do. Try to avoid spending your refund as a down payment on a major purchase that will only bring you more debt, like a new boat. 

You’ll only create more financial challenges for yourself later on.