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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

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.

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