How Americans Will Spend Their Tax Refunds in 2017?

This infographic explains how Americans will spend their tax refunds. It also explains some ways to make the most of it.

Tax refunds

Do Americans expect a tax refund in 2017?

46% – Expect to receive a tax refund

24% – have to pay additional taxes

12% – don’t expect a refund or have to pay

9% – already received a tax refund

9% – don’t know

What they plan to do with their tax refunds:

30% – Pay down debt

28% – Will save it

26% – Spend it on necessities

7% – Vacation

9% – Other

Here are some ideas to use your money:

1. Reduce debt

  • Credit cards
  • Personal loans
  • Mortgage
  • Outstanding bills or fines

2. Stash it away

  • Emergencies or unexpected costs
  • Home deposit

3. Reward yourself

  • Take a break
  • Home improvements
  • Pamper yourself just a little

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