Survey: Most Taxpayers Would Use Refund To Pay Debt
Posted: 11:06 am EDT April 7, 2005Updated: 11:34 am EDT April 7, 2005
What would you do if you received a $1,000 tax refund this year? Would you spend it on a new big screen TV or would you put the money into savings?
Stop Procrastinating: Visit Our Tax GuideA new survey, commissioned by InCharge Institute of America, found that about one in four consumers, 28 percent, said they would put the money into an emergency savings account.Only 6 percent of those surveyed said they would spend the money on discretionary purchases, such as a TV or computer. The majority of consumers, 47 percent, said they would use the money to pay off debt or pay bills."This is a very positive finding," said Rebecca Stiehl, president of InCharge Education Foundation. "Although the majority of Americans are currently facing some type of debt, it is reassuring to know that many of them are actively saving while paying down that debt, and are not continuing to purchase additional items."
Stop Procrastinating: Visit Our Tax GuideA new survey, commissioned by InCharge Institute of America, found that about one in four consumers, 28 percent, said they would put the money into an emergency savings account.Only 6 percent of those surveyed said they would spend the money on discretionary purchases, such as a TV or computer. The majority of consumers, 47 percent, said they would use the money to pay off debt or pay bills."This is a very positive finding," said Rebecca Stiehl, president of InCharge Education Foundation. "Although the majority of Americans are currently facing some type of debt, it is reassuring to know that many of them are actively saving while paying down that debt, and are not continuing to purchase additional items." Previous Stories:
- March 30, 2005: Options Still Available As Tax Deadline Looms
- March 29, 2005: Taxpayers Shortchange IRS By Nearly $300 Billion
- March 10, 2005: Experts: Blowing Tax Refund Not Best Idea
- March 1, 2005: IRS Announces 2005 'Dirty Dozen' Tax Schemes
- February 24, 2005: Tax Tips: Avoid Common Mistakes
- February 18, 2005: Be Wary When Selecting Tax Preparer
- January 31, 2005: IRS Offers Free Online Tax Filing
Distributed by Internet Broadcasting. This material may not be published, broadcast, rewritten or redistributed.
See What's Playing
Why pay full price when you can Just Pay Half?
Allen Hills is CMPD North Division "Neighborhood of the Month"
10 Ways To Boost Your Confidence
Pet Pictures... And More!
Protect Your Money
Take The Drama Out Of Home Buying
Where Should We Go For Dinner?
