WASHINGTON (NBC) — If you are getting a tax refund this year, will you spend it or save it?
The National Retail Federation’s annual tax return survey finds a record low number of Americans will spend their tax returns this year. Meanwhile, the second-highest number on record will put the money into savings.
The survey finds 48 percent of consumers plan to save the money rather than spent it right away. Nearly 36 percent plan to use their tax refund to pay down debt.
See the NRF’s full survey at this link.