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DALLAS, TX -
The tax deadline is just weeks away and this year more Americans seem poised to spend their refunds, instead of saving it or paying off debt.
According to a new survey by the National Retail Federation, after years of uneasiness, people may be willing to open their wallets and splurge, using the free money.
Irving real estate agent, Johnny Garcia says this year he will spend the $3,000 he has going back, instead of saving it. "I probably will buy my son a vehicle. My kids have a band and they need a truck to carry their instruments around".
Garcia is in good company. This year, about 13% of Americans say they will use their tax refund on splurge items, like a car or TV. More people feel willing to spend. Less than 50% say they will save the refund or use it to cover debts.
New homeowner, Amanda Murphy is among those who will be spending the refund. She bought a home for the first time and will be getting about $8,000 back. She will use it to furnish her new digs. "I want to buy new bedroom furniture so I am excited".
Experts say this year, the tax credit that gives new home buyers up to $8,000 back could be the boost retailers are looking for in down economic times. But, only if those getting the credit, spend it. "When they get their money and spend it, it boosts the economy, says Liberty Tax Service owner, Lesley Smith. "I think people will take those new credits they are getting back and have more money to spend".
According to a new survey by the National Retail Federation, after years of uneasiness, people may be willing to open their wallets and splurge, using the free money.
Irving real estate agent, Johnny Garcia says this year he will spend the $3,000 he has going back, instead of saving it. "I probably will buy my son a vehicle. My kids have a band and they need a truck to carry their instruments around".
Garcia is in good company. This year, about 13% of Americans say they will use their tax refund on splurge items, like a car or TV. More people feel willing to spend. Less than 50% say they will save the refund or use it to cover debts.
New homeowner, Amanda Murphy is among those who will be spending the refund. She bought a home for the first time and will be getting about $8,000 back. She will use it to furnish her new digs. "I want to buy new bedroom furniture so I am excited".
Experts say this year, the tax credit that gives new home buyers up to $8,000 back could be the boost retailers are looking for in down economic times. But, only if those getting the credit, spend it. "When they get their money and spend it, it boosts the economy, says Liberty Tax Service owner, Lesley Smith. "I think people will take those new credits they are getting back and have more money to spend".
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