Nearly half (47%) of Americans expecting a tax refund plan to put the money into savings, according to a recent report from the National Retail Federation.

The report was based a survey of 6,186 Americans conducted in February 2015. Additional data came from from Neustar's PlatformOne, which includes anonymized transaction information from 220 million US adults.

Two-thirds of respondents say they are expecting a refund this year.

Of those Americans who plan to spend their refund rather than save it, 39% say they will pay down debt, 25% will use the money for daily expenses, 13% will splurge on a vacation, and 11% plan to make a major purchase on something like a television or car.

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ABOUT THE AUTHOR
image of Ayaz Nanji

Ayaz Nanji is an independent digital strategist and a co-founder of ICW Content, a marketing agency specializing in content creation for brands and businesses. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji