What Americans Plan To Do With Their Tax Refunds

What Americans Plan To Do With Their Tax Refunds

Photo by Sharon McCutcheon

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PhillyBite10Philadelphia, PA - Good things come to those who file. With the tax deadline just around the corner, eBay's Tax Refund Retail Study, released today, uncovered what Americans really want to do with their refunds. The findings reveal that 92 percent of American consumers plan to file early, before April, and most are excited to receive their refunds to treat themselves. For those planning to shop, eBay continues to offer amazing, splurge-worthy deals on eBay.com/taxrefund now through April 17.

"Our research showed that consumers, especially Millennials, view tax season as a time to use their refunds to reward themselves – whether it's upgrading their personal style or investing in their passions," said Jesse Kiefer, General Manager of Deals at eBay. With two extra days to file this year, the eBay Tax Refund Retail Study also uncovered that:

A majority of Americans are not tax return procrastinators.

  • Nearly 6 in 10 (57%) Americans had already filed as early as February 26, and even high among Millennials (59%) – that's nearly two months (50 days) before the deadline!
  • Nearly half (48%) of respondents expressed excitement about filing taxes because they are getting money back.

Refunds mean rewards for many filers.

  • Nearly 8 in 10 (78%) plan to spend at least part of their tax refund this year, while less than a quarter (23%) plan to save it.
  • Millennials are the most open to spending their refund on themselves: 71% are considering rewarding themselves after completing their return, that's 4% higher than the general population.

Americans have plans for their tax refunds - from new cars, to electronics and fashion.

  • The top three things Americans plan to reward themselves with for filing include new electronics, a new wardrobe, and a night out at a restaurant or bar.
  • One in five Americans (20%) plan to spend their entire refund on a tech purchase.
  • For Millennials planning to spend their entire refund, more than a third (37%) will spend it on a new car.



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