“Gambling, investing in cryptocurrency or backing a friend’s new venture are among the worst possible ways to spend a tax refund, writes Geoff Williams” in US News and World Report.See;
The 5 Worst Ways You Can Spend Your Tax Refund
https://money.usnews.com/money/personal-finance/taxes/articles/2018-03-20/the-5-worst-ways-you-can-spend-your-tax-refund
Much better options: pay down credit card debt, pay down other debts like car loans and student loans. Build up your emergency fund by buying I-bonds with your refund. If you’ve already received your refund, wait until May 1 (for higher rates) and buy I-bonds directly from the U.S Treasury. Check out: https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
Current rates: 2.58% for bonds issued November 2017 – April 2018. Starting May 1 rates are likely to be higher because the Federal Reserve Board is raising interest rates as the economy recovers from the Great Recession.
Source: Financial Planning for Women