We all look forward to that annual check from the government, the tax refund. But this year many will save, rather than spend, the money they receive.

Don Farrall, Getty Images

In a recent survey by the National Retail Federation, 46 percent say they will hold on to that refund check.

"Mom and Dad and kids alike want to make sure that they have that extra 'nest egg' of money if they need it," said NRF spokeswoman Kathy Grannis.

Two-thirds of those surveyed by NRF expect to see a refund check. Grannis said, out of all respondents, one out of every 10 intends to spend the money to buy something.

"There's still plenty of Americans who are actually out there looking for ways to enjoy their money," Grannis said.

But the "frugality factor" -- those saving the refund -- is up from last year.

In fact, 18- to 24-year-olds in the survey said, by a 60-to-40 percent margin, that they've decided to hold on to the refund rather than spend it. Grannis suggests some of that may have to do with the fact that they witnessed their parents going through some recent rough patches during the Great Recession, and some of that worry may have rubbed off on them to the extent that they are more reluctant to spend a little windfall.

To read a summary of the NRF survey, click here.