Some people think of tax time as a bonus shopping spree. With all the “tax refund” sales and promotions that retail and media outlets bombard us with, it’s easy to understand why getting money back from a tax refund may seem like free money. However, it’s really not.

When you break it down, you’re really just getting your own money back. Throughout the year, you’ve paid more than your share of taxes, and the government is making good on what is, essentially an interest free loan that they’ve borrowed from you.

Basically, you’ve stored money in an account which does not earn any interest. It’s like putting cash in a jar. So really you’re just celebrating getting your own money back. Tax refunds are not bonuses, but a return of your overpayment in taxes.