WASHINGTON (NBC News) Many, if not most, Americans are about to suddenly find themselves with a bit more spending money. How and what they should spend it on is a different story.
With the average tax refund check totaling about $3,000 this year, millions of taxpayers will again be flooding the IRS online refund tracker to watch the money make its way to them so they can decide what to do with it.
A survey from Taxslayer found most of those getting a refund plan to either save it, pay down debt, treat themselves, or all three.
“You’ve got your retirement contributions on track, you’ve got an emergency fund, you don’t have any debt, then, maybe, yea, you can go ahead and spend a little bit more of that money,” says CNBC Consumer Reporter Kelli Grant.
This year, there will be a little bit more of that money, because of a reduction in payroll taxes that start this month.