Contact Us

Survey: More Will Save Tax Refund Check [AUDIO]

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.

Money Stack
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.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of WOBM

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for WOBM Listener Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive WOBM Listener Club contests, events, coupons, presales, and much more delivered to you for FREE.