Now 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:
- Save it.
- Pay down debt.
- Pay for everyday expenses.
- Take a vacation.
- Make a major purchase (such as car or TV).
- Splurge on clothing, a spa day or dining out.
Sources: National Retail Federation, Bloomberg Business