I haven't addressed you OP, because others have done it, but I'm going to chime in. I work in a field where I am SURROUNDED by accountants. Tax Accountants, Finance Accountants etc. About 2/3rds of the people I work most closely with have CPAs. They are not any better or any worse at managing their own money than normal people are. I think a lot of people on this board only know about personal finance advisors who have accounting degrees and don't realize that most accountants are working in corporate America. Your professors are spouting outdated advice that is true at some times and not true at some times. The best advice I can give you is to just nod your head, agree with them, and think your own thoughts. You won't change their minds with the facts. Right now there really is no benefit to putting money into a savings account vs. getting a refund. There have been times when there is a benefit. In fact, at one point I used to pay with vouchers to the feds once a quarter because I made money by dumping all my tax money into my savings account and taking the monthly interest! Right now, it is not true. I've heard the argument that you're losing money because you're not getting use of that money in the months the government has it. That's true, actually, if you are going to spend the money or invest it. If that money would be earmarked for your savings account there is no functional difference unless you are a high enough earner that you have enough of that money to play with effectively in the markets - and most of us do not have those kinds of extra $$ to play with! Whether your put it into a savings account or have the government take the extra really doesn't matter fiscally at this moment in time. (And the fraud argument. . .are people aware that the same sort of fraud occurs to savings accounts?) Honestly, I love the fact that we don't miss the money coming out of our paychecks because we've never seen it and then in late Feb/early March there's this big horking check deposited in our account. Also, DH is NOT a real saver; I've had to convert him over the years. For him getting that check is like getting the high score on a game at the end of a quest or a level. There will always be people who will sit in judgement of you because you don't do things the way they would. They're easily ignored. Even the college professors! Just smile and nod and put the answers they'll like on tests.