Survey says…tax refunds won’t stay around long
The good news from last week’s Friday eNews survey is that no one who responded expects to owe the IRS any money this year.
The bad news is that none of them expect their income tax refunds to remain in their checking accounts for very long, either.
Almost half of all employees who responded to the Jan. 18 question said that they plan to use this annual windfall to lower their credit card balances or pay off other debts.
Another third said they would be using the funds to pay for much-needed vacations or to replenish depleted savings accounts, while about eight percent said they planned to put theirs toward a child’s college fund or financing home-improvement projects. About ten percent said they planned to go shopping, while the remainder said they would be giving theirs to their church or a favorite charity.
