Americans Love Their Tax Refunds

Nobody loves tax time, except the tax preparers, but there is at least one thing some people love about it – the refund.

A new survey finds:

• 63% of people say they would rather get a tax refund than get more money in their check throughout the year (37%).
• 31% say they like getting a refund because it helps them save money.
• 74% of those surveyed got a refund last year, with the median amount being $2,154.

So, what is everyone doing with that tax refund?

• 67% actually save some or all of it.
• 25% use it to pay off credit card bills.
• 16% go for the splurge, buying gifts or going on vacation.
• 16% spend it on groceries.
• 10% have invested it.
• 3% use it to pay off student loans.

Would you rather have the money during the year, or get the refund at tax time?