How Americans Unexpectedly Spend $3,120 Each Year

HOW AMERICANS SPEND$3,120 EACH YEAR The average tax refund in 2015 is $3,120, an almost 10% increase from last year's average. Of all Americans filing this year, 66% are expecting a tax refund. How do they plan on spending it? SAVINGS: 46.9% EVERYDAY EXPENSES: 25.1% OF THOSE EXPECTING A REFUND: PAYING DOWN MAJOR OR DEBT: 39.1% "SPLURGE" PURCHASE (TV, FURNITURE, CAR, ETC.): 20.7% OTHER: 4.4% VACATION 13.0% VS MEN WOMEN PAY DOWN DEBT 37.9% 40.3% SAVINGS U... 47.2% 46.5% EVERYDAY EXPENSES 24.5% 25.8% MAJOR PURCHASE 11.6% 9.4% SPLURGE PURCHASE 9.9% 10.5% VACATION 12.5% 13.5% OTHER PURCHASES 3.9% 4.8% Survey respondents were available to choose multiple options DATA POINTS PROVIDED BY: THE NATIONAL RETAIL FEDERATION (NRF.COM) IRS.GOV INFOGRAPHIC PRESENTED BY: DriveTime drivetime.com 1590 1265 2383 1092 1590 1265 2383 1092