By Kellie Lala
It’s that time of year-Tax season! According to a 2011 recent National Retail Federation survey, Americans are ready to use their tax refunds to treat themselves or their families. What might they buy you ask? Major purchases like a new television or furniture top the list. However, the economy is still looming as a reminder that they just might want to save some of their tax refund for a rainy day. Personally, I like to do a combination of the two. I love to travel, so my refund goes to fund that passion along with putting some of my money in savings. Look at your tax refund as “free money” and it can be used to also pay down any credit cards or debt that you may have. My wise, former boss Eliot Keller, would always tell me that the Government had used my money interest free for the past year and now they give it back to me in the form of a tax refund. I agreed with him 100%, however I like getting a “chunk of change” in the form of my tax refund.
According to the National Retail Federation survey, 63.9 percent of Americans have filed their taxes by the end of this month (February) and their refunds will soon be on the way into boosting our economy. Approximately 66% of tax payers are expecting a refund this year. With that many Americans getting money back we can only hope that they will shop at local stores, pay for their daughter’s weddings, buy an “Imported from Detroit” new car or go see the Grand Canyon for the first time.
How about you? What will you do with your “free money”?
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