Just over half of Americans expect to get a refund when they file their taxes. Find out how they plan to spend it.

Answer: 

1. Savings: 49%
2. Pay down debt: 33%
3. Everyday expenses: 28%

Questions:

• Were you surprised by the results? Why or why not?
• How do people’s plans for their tax refunds compare to their actual spending from last year?
• Why do you think so many people put their tax refund into savings?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (National Retail Federation): 

"NRF has been conducting its annual Tax Returns Survey since 2007 to gauge consumer spending and saving behavior related to U.S. income tax returns. The 2025 annual tax return survey conducted by NRF and Prosper Insights & Analytics found that 54% of consumers expect a refund this year."

"The 2025 survey of 8,568 U.S. adults 18 and older was conducted January 31 - February 5 and has a margin of error of plus or minus 1.1 percentage points. The survey was conducted prior to the IRS layoffs announced the week of February 17."

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.

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