More consumers plan to use tax refund for spending spree

March 03, 2010

The number of consumers willing to spend their tax refunds to treat themselves is up slightly from a year ago, according to a retail trade group. About 13 percent of Americans expecting a refund said they plan to put the money toward a major purchase such as a television, furniture or car, according to the survey from the National Retail Federation. That figure is up from 11 percent in 2009. The most common uses for tax refunds, however, remain more mundane: paying down debt, building savings, and meeting daily living expenses, the survey said. Roughly two out of three consumers say they expect to receive a tax refund. And they are eager to receive it. -Tribune Newspapers

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