SOUTHLAKE, TEXAS - As taxpayers scramble to finish those final tax forms by the April 15 deadline, tax filing season will soon be replaced by a much happier time of the year: Tax refund season. To find out how Americans would most like to use their tax refunds, which have averaged more than $2,700 over the past two years, Travelocity asked 1,000 Americans how they would most like to spend this windfall.
When asked whether they would rather use their income tax refund on practical items (like car repair), or to treat themselves to something special, almost 30% of respondents chose indulgence. For millennials, the percentage was even higher, with 43% opting to use their tax refund for a treat. When asked about that self-indulgent purchase, while items such as a "new outfit" or a "trendy tech gadget" were both popular choices (at 18% and 11%, respectively), by far the most popular desired use of a tax refund was a "dream vacation", with nearly half (47%) of self-indulgent respondents choosing this option.
"Travelocity's survey reveals that Americans who want to treat themselves with their tax refunds are most interested in travel, clearly demonstrating that people are increasingly placing more value on experiences than on products," said Brad Wilson, Vice President and General Manager of Travelocity. "With the average tax refund the past two years being over $2,700, the opportunities for experiencing new people, places and cultures are virtually limitless."
