From Home Furnishing Business
Millennials Most Likely to Use Tax Refund for Major Purchase
Millennials are the most likely segment of the population to spend their tax refund money on a major purchase or “splurge” of smaller purchases, according to a survey conducted by GoBankingRates.com.
For the 2016 tax refund season, 17.1% of 18- to 24-year-olds said they would use their refund money this way, as did 13.8% of 25- to 34-year-olds.
That was well above any other age group. For example, only 7% of consumers age 55 to 64 said they would use their refund dollars for a major purchase or “splurge.”
For more details on the survey, click here.