More Americans plan to save their Tax Refunds this year

April 13, 2011

With tax day just a few days away, questions about where to put your money are often at the top of the list. The good news more than one-third of workers will put their tax refund into savings, according to a new CareerBuilder survey. That means fewer workers plan to use their tax refunds to pay off bills...46 percent to be exact. Down from 56 percent last year. In addition, more than one-third (or 36 percent) of workers report they will use their tax refund to augment their savings accounts, up from 34 percent who said the same last year. The annual CareerBuilder survey was conducted among more than 3,900 workers. While more than 61 percent said they currently live paycheck to paycheck, this is down from 77 percent who said the same in a study conducted just a year ago In addition, 79 percent of workers said they haven't reduced their 401(k) accounts or personal savings in the last year.