I’ve never been tempted to get a refund anticipation loan and I’m definitely not interested in paying $34.95 to get my refund a week early. I’ve never been in a situation where I needed cash that quickly and couldn’t get the money from elsewhere — such as my rainy day savings fund. But I know many Americans are struggling day to day. They may feel a RAL is their only option.
If I were advising a friend or relative, I would say it’s worth it to wait for the refund and anticipate getting the full benefit of the IRS check — without a lender taking a cut of the money off the top or the bottom.