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What Will You Do With Your Tax Refund?

Jill Devine

I read an article today that said the average tax refund this year will be $2,803.  Capital One just released results of a survey that explains how Americans will spend their tax refund.  Here are the results:

  • 22% will use it to pay down debt
  • 16% will put in the bank
  • 4% will invest
  • 30% will use the money on everyday expenses
  • 23% will spend it on vacation
  • 16% will spend it on clothes, shoes, or accessories
  • 15% will buy an iPad, TV, smart phone, or some other electronics

If you received a refund (or you expect to receive a refund), what will you spend it on?  Brian and I will be spending our refund on our upcoming wedding, which also falls under the vacation category.  So, I don’t have any complaints in doing that.

More from Jill Devine

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