Did you get a tax refund this year?
You can probably think of a thousand ways to spend the extra money. But don’t act too fast! You can maximize your tax refund by using it to improve your financial situation.
74% of taxpayers received a tax refund in 2018.
Average tax refund amount in 2018: $2,793
Tax refund trends
Here’s what Americans do with their tax refunds.
- 43% Put the money in savings
- 36% Pay off debt
- 10% Spend it on vacation
- 6% Splurge on a luxury purchase
- 5% Make a major necessary purchase