Dreamstime

How Are You Spending Your Tax Refund, Or Is It Already Gone?!

April 18, 2017

A new survey by the National Retail Federation reveals that 66% of Americans are expecting a tax refund this year.  So how are YOU spending your refund this year?  Rob Lucas' refund was so small he is spending it on McDonalds this year. 

According to the same survey, here is how Americans usually spend their refunds: 

  • 20% of people will spend their tax refund on everyday expenses.
  • 8.7% of people will spend their tax refund on a major purchase like a TV, furniture or a car
  • 7.6% of people will spend their tax refund on dining out, clothing or a spa visit
  • 10.7% of people will spend their tax refund on a vacation
  • 8.8% of people will spend their tax refund on a home improvement
  • 48% of people will place their tax refund in a savings account