Survey: More Americans plan to save tax refunds this year - KWWL - Eastern Iowa Breaking News, Weather, Closings

Survey: More Americans plan to save tax refunds this year

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(NBC) -

More Americans plan to save, not splurge, that tax refund check this year than in year's past.

According to the National Retail Federation's annual tax returns survey, more than 65 percent of those surveyed are expecting a tax refund this year.

Of those expecting a refund, 47 percent plan to put that money into savings.

That's the highest percentage of consumers planning to save their refunds in the survey's history.

Of those planning to spend their refund, the survey found about 39 percent plan to pay down debt, 25 percent plan to use it for daily expenses, 13 percent will splurge on a vacation and then 10.5 percent will make a major purchase.

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