While most adults typically are excited about receiving their tax refunds to splurge on luxury items, research from the National Retail Federation (NRF) and Prosper Insights & Analytics is telling a different story.
Survey respondents painted a clear picture of their tax refund activities that largely don’t involve spoiling themselves with gifts. Most people are planning either to put the money in savings or to pay down debts.
Here are the numbers:
48 percent | Percentage who plan to put tax refunds into savings
35.5 percent | Percentage who plan to pay down debt with tax refunds
68 percent | Percentage who plan to file taxes online
21 percent | Percentage who plan to hire an accountant
22 percent | Percentage who have already filed their taxes