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From Home Furnishing Business

FastFact: Majority Use Tax Refunds for Debt, Savings

The majority of consumers who receive tax refunds use the extra money to pay off debt or put in savings, according to a recent study by GoBankingRates.com.

Only 7.1% use it for a major purchase such as furniture, the study found, while 38.6% use it to pay off debt and 35.7% put it in savings. Another 12.9% said it would be used for a vacation.

For more information on the tax refund study, click here.



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