Americans Planning to Hang onto Tax Refunds - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Americans Planning to Hang onto Tax Refunds

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Most Americans plan to save this year's tax refund, instead of spending it. That's according to a survey by TD Ameritrade.

Sixty-one percent say they'll save or invest their refunds, 21% say they'll pay off debt and 18% say they'll use the money for necessities. Only 19% say they'll use the cash for buy non-essential items.

The IRS says last year's average tax refund was $2,744.




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