03 Mar Americans are getting their tax refunds…what will they do with them?
Tax season is here! And while many Americans will heave sighs as they sign large checks to the government, others will cheer as they open their tax refunds. It is predicted that the average American family will receive more than $3,000 in refunds this year!
But how will they spend it? Have a look at this chart created by CNN:
According to the historical data, Americans are actually pretty responsible with their money, with a whopping 70-80% of families using the money to pay down debt or for savings.
But instead of putting the money into a low interest savings account, how much better it would be if those families knew about Forever Cash assets! Then they wouldn’t have any debt to pay down and would have investments immune to inflation and economic downturn. Their annual tax return could be reinvested and could bring them $3,000 per month instead of annually.
You can check out the full article on CNN here.