How Americans Spend their Tax Refund

    What will you be doing with your tax refund?

    FOX’s Tonya J. Powers reports, Americans have different ideas about what to do with the windfall:

    You just got your tax refund, woohoo, but what do you do with it? Pay the bills? Go on vacation? Buy something fun? According to, only six percent plan of us to splurge for vacation or go shopping.

    Most folks plan to be a bit more practical: 34 percent want to save, 29 percent will pay bills with it or buy groceries and 27 percent will be looking to take out a chunk of their debt.

    The percentages for saving and necessities are the highest BankRate’s seen in the four surveys they’ve done over the past few years.

    Paying the debt however was a new low, declining seven percent over the past two years.

    Tonya J. Powers, FOX News.

    Follow Tonya J. Powers on Twitter: @TonyaJPowers