Treat the future you: 3 smart ways to invest your tax refund

If you beat the April 30 income tax filing deadline, congratulations. Now the fun part.

According to the Canada Revenue Agency (CRA), an estimated two-thirds of taxpayers are eligible for a refund this spring; averaging $2,200 each.

Refund amounts are much higher for those who lowered their 2023 taxable income by taking advantage of all available credits and deductions, or by making hefty contributions to their registered retirement savings plans (RRSP) and other registered investment plans.

While tax refunds are considered fun money for most of us, there are 3 ways to invest that cash that can compound and reap rewards over time.