Fewer tax refund spending sprees this year
April 10th, 2008, 9:15 am · Post a Comment · posted by Edward Gately
A new Ameritrade survey shows most Americans aren’t planning to splurge this year when they receive their income tax refunds. The survey of 2,338 taxpayers showed most are in a serious mood when it comes to spending money.
When asked what they plan to do, 85 percent said they plan to either invest it, pay off debt or save it. Three out of four adults anticipate receiving a tax refund this year.
Other survey findings include:
* If given the choice of where their tax money would be spent, most adults prefer to see their money go toward health care, followed by education and Social Security. Women are more likely to want their money to go toward health care and education, while men are more likely to prefer their money go toward infrastructure and national security.
* Men are more likely than women to say they contribute more of their tax refunds to charitable organizations now versus five years ago. Adults ages 35 and older, and earning $75,000 or more a year, now are likely to contribute more to charity than five years ago.