Released: April 05, 2007

For many, tax refund spells ‘fun’

Source: Mindy Fetterman, USA Today

When it comes to people’s plans for their income tax refunds, Americans have the best intentions. In a USA TODAY/Gallup Poll of 1,010 people, 62% said they use their tax refund to pay major bills — or they save it.

In a survey of 1,717 by Principal Financial Group, 84% said they pay major bills — or save it. In a survey of 1,004 by TransUnion, 72% said they pay major bills — or save it.

One is tempted to say: Liars! People will say one thing to a pollster, and then it’s off to Cancun!

Only a fraction of people admit they’re going to blow their income tax refund (12% in USA TODAY’s poll). But someone is blowing that money.

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