Since many consumers are reportedly tightening their belts so far in 2013, we here at dealnews wondered how people might handle their annual tax refunds. While not all Americans will receive money from Uncle Sam, the average refund last year for those who did receive one was $2,803. And while that's a 3.8% decrease from 2011, it's nothing to sneer at. So what will consumers do with this substantial chunk of change in the coming months?
According to our second annual survey, 76% of our readers will receive a refund. However, this year, more people will use their return to pay down debt than in 2012, and fewer folks will save this extra cash. The number of people who said they'd spend their refunds remains unchanged from year to year, although what they spend it on has shifted. More people said they'll buy electronics with their return, while fewer people this year will opt for travel or household upgrades.
For more details on what consumers plan to do with their tax refunds this year, scroll through the infographic below. Haven't filed your taxes yet? Then check out some tax software deals to help you get started.
Front page photo credit: The Truth About Cars
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