Updated Tuesday, July 29, 2014 as of 6:43 AM ET
- Mass Affluent
More Americans Will Spend Rather than Save Tax Refund
by: Margarida Correia
Thursday, March 7, 2013
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Most Americans (85%) will receive a federal tax refund averaging $2,803. What will spendthrift Americans do with the money? More than twice as many will spend rather than save it, according to Capital One Bank’s annual taxes and savings survey.

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