Post Categories: May 2016

Survey Says: How Will U.S. Consumers Use Their Tax Refunds?

may-2016-survey-says-featureNow that tax time has come and gone, many consumers’ pockets are a little fuller. According to a survey by the National Retail Federation, over 65 percent of filers expected to receive some type of refund this year—adding up to a whopping $330 billion, according to Bloomberg Business. So where will all that money go? Here are the top 6 ways Americans plan to use their tax refunds this year:

  1. Save it.
  2. Pay down debt.
  3. Pay for everyday expenses.
  4. Take a vacation.
  5. Make a major purchase (such as car or TV).
  6. Splurge on clothing, a spa day or dining out.

Sources: National Retail Federation, Bloomberg Business