Survey Says: Americans Will Spend Tax Refunds Wisely

Libby Kane

Do you expect to get a tax refund this year?

According to a survey conducted by TD Ameritrade, 50% of Americans expect to get a refund on either their state or federal tax return this year. And more importantly, most plan to use that money wisely.

63% of those surveyed plan to save or invest at least part of their refunds, 51% expect to use it to pay down debt and 48% are allotting it to necessities such as food or utility bills. Only 14% of respondents plan to use that money to splurge (travel and new mobile phones were examples given).

How virtuous! Our fingers are crossed that these well-meaning taxpayers get the money they deserve, but in the meantime, we’re curious: What about you? How would you use your tax refund? Answer in our poll below!

And remember: This year’s deadline to file state or federal income tax returns is April 17th!

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