Majority of Americans plan to spend tax refund on necessities

SWNS

28 January 2025 at 4:44 am

A new study has found a third of Americans plan out what to spend their tax refund on half of a year in advance. Commissioned by TaxSlayer and conducted by Talker Research, the new poll of 2,000 U.S. taxpayers found 79% believe they’ll get some sort of refund this year, and many of them have already planned out what to spend it on. A majority (52%) said their tax refund is an important part of their budgeting plans, and 77% plan to spend their refund on necessities. Chief among necessities were bills like rent (52%), groceries and essential items (44%) and credit card debt (37%). Over half (56%) of those spending their refund money on credit card debt are specifically targeting their holiday season purchases.

euronews Videos
Data security: Which EU countries protect themselves the most?
Most online users don't read privacy statements and prefer to focus on managing their own data security on the internet.
SWNS
Should the Monday after the Super Bowl be a national holiday?
More than half of football fans wish that the Monday after the big game was a national holiday (55%), according to new research. A survey of 3,000 respondents 21 and older who will be watching the big game explored their feelings about the day after, finding that where Mondays are concerned, a majority of respondents prefer other days of the week in general (76%). Mondays are the most disliked day of the week according to two-thirds of those surveyed who said that everything feels slower and expressed that their sadness about the weekend being finished carries over (34% each). Conducted by Talker Research in partnership with Coors Light, the survey found that on average, respondents have “a case of the Mondays” at least once a month, averaging 15 times in a year.
The Telegraph
Britain’s Isa millionaires shunned the Magnificent Seven – this is where they invested instead
The so-called Magnificent Seven have dominated the investment landscape in recent years – but Britain’s canniest savers continue to shun them.
Herald Scotland
Lloyds, Halifax and Bank of Scotland to close 136 branches
Lloyds blamed the decision to shut the branches on customers shifting away from banking in person to using mobile services.
The Northern Echo
Claims open for DWP Winter Fuel Payment £300 from today
If you are eligible but have not received for this year's Winter Fuel Payment, you can contact the DWP from today
Reuters
London gold market queues up to borrow central bank gold after big shipments to US, sources say
LONDON (Reuters) -London bullion market players are racing to borrow gold from central banks, which store bullion in London, following a surge in gold deliveries to the United States on speculation of potential import tariffs there, two sources familiar with the matter said. The minimum waiting time to load gold out of the Bank of England, which stores gold for central banks, has reached four weeks, one of the sources said. U.S. President Donald Trump has not mentioned precious metals in his tariff plans, but the risk has been enough to boost gold deliveries to New York as part of the market sought to hedge its positions on the U.S. COMEX exchange and part sought to benefit from a jump in the price premium of COMEX futures over London spot prices.
CityAM
Morgan Stanley: Bank of England to cut interest rates five times in 2025
The US investment bank slashed its growth forecasts on Monday, citing both the lingering impact of the Bank's monetary tightening and the fallout from the Budget.
Fool.co.uk
Is this my chance to buy Nvidia shares?
As Nvidia shares lose half a trillion in market value in a day, is this Stephen Wright’s chance to buy an unusually big dip? The post Is this my chance to buy Nvidia shares? appeared first on The Motley Fool UK.
Yahoo Finance
Nvidia stock crash saw retail investors dump more than $900 million into the name
Retail investors poured money into Nvidia shares as the stock saw its largest single-day drop since March 2020.
Manchester Evening News
DWP 'crisis' warning issued over new money-seizing powers
The DWP has been granted new powers to take money directly from people's bank accounts
Fool.co.uk
Down 15% to just 67p, does Vodafone’s share price look a bargain to me?
Vodafone’s share price is down a long way from its 12-month high, which may signal a bargain to be had. I ran the numbers to see if this is true. The post Down 15% to just 67p, does Vodafone’s share price look a bargain to me? appeared first on The Motley Fool UK.
Fool.co.uk
Here’s the forecast for the two highest-yielding dividend stocks on the FTSE 100
Mark Hartley looks at what the future holds for two of the UK's leading dividend stocks by yield. Do the high payouts make them worth considering? The post Here’s the forecast for the two highest-yielding dividend stocks on the FTSE 100 appeared first on The Motley Fool UK.
Fool.co.uk
1 move to avoid at all costs if the S&P 500 crashes in 2025
The S&P 500 has had a volatile week, raising fears that a meltdown might be on the cards. Here's what this Fool would do if that happens. The post 1 move to avoid at all costs if the S&P 500 crashes in 2025 appeared first on The Motley Fool UK.
Fool.co.uk
2 FTSE 100 and FTSE 250 shares to consider for a Stocks & Shares ISA!
Stocks and Shares ISA investors have a wealth of shares, funds and trusts to consider. Here are two I think demand a close look today. The post 2 FTSE 100 and FTSE 250 shares to consider for a Stocks & Shares ISA! appeared first on The Motley Fool UK.
Simply Wall St.
3 Growth Companies To Watch With 14% Insider Ownership
As global markets continue to climb, with U.S. stocks reaching record highs and growth shares outperforming value stocks, investors are keenly observing the impact of political developments and economic policies on market sentiment. In this environment of optimism fueled by AI advancements and potential trade agreements, identifying growth companies with significant insider ownership can offer insights into firms where executives have a vested interest in long-term success.
The Telegraph
It’s time to take profits from our winning stock tips – and where you should put them
The share price may be crumbling but we believe the investment case for landscaping, building and roofing products supplier Marshalls remains solid, so we shall keep faith in the recovery potential at the West Yorkshire company.
Fool.co.uk
Is it game over for the Taylor Wimpey share price?
The Taylor Wimpey share price has taken a beating for years and Harvey Jones doesn't expect an instant recovery. Can the FTSE 100 stock prove a winner again? The post Is it game over for the Taylor Wimpey share price? appeared first on The Motley Fool UK.
The Guardian
US rival agrees £1.2bn deal for British car parts firm in new hit to UK stock market
American Axle and Manufacturing’s acquisition of Dowlais follows exodus of London-listed companies in 2024
The Guardian
Microsoft reports strong fourth-quarter earnings amid uproar over DeepSeek’s AI
Microsoft beat Wall Street’s expectations as questions over multibillion-dollar spending on AI mount
Reuters
Indian stocks set for longest monthly losing streak in over 23 years
Indian stocks are on a four-month losing streak, set for their worst such run in 23 years as weak earnings, foreign outflows and economic uncertainty have taken the wind out of the sails of a market that hit record highs just four months back. The Nifty 50 and Sensex have lost about 3% each in January, the second most in the four-month losing run. They are now even below the levels in early June when Prime Minister Narendra Modi's election victory sparked a rally to record highs.

The Michael Kors clearance sale has up to 70% off designer handbags, coats and dresses

Majority of Americans plan to spend tax refund on necessities

Latest stories

Data security: Which EU countries protect themselves the most?

Should the Monday after the Super Bowl be a national holiday?

Britain’s Isa millionaires shunned the Magnificent Seven – this is where they invested instead

Lloyds, Halifax and Bank of Scotland to close 136 branches

Claims open for DWP Winter Fuel Payment £300 from today

London gold market queues up to borrow central bank gold after big shipments to US, sources say

Morgan Stanley: Bank of England to cut interest rates five times in 2025

Is this my chance to buy Nvidia shares?

Nvidia stock crash saw retail investors dump more than $900 million into the name

DWP 'crisis' warning issued over new money-seizing powers

Down 15% to just 67p, does Vodafone’s share price look a bargain to me?

Here’s the forecast for the two highest-yielding dividend stocks on the FTSE 100

1 move to avoid at all costs if the S&P 500 crashes in 2025

2 FTSE 100 and FTSE 250 shares to consider for a Stocks & Shares ISA!

3 Growth Companies To Watch With 14% Insider Ownership

It’s time to take profits from our winning stock tips – and where you should put them

Is it game over for the Taylor Wimpey share price?

US rival agrees £1.2bn deal for British car parts firm in new hit to UK stock market

Microsoft reports strong fourth-quarter earnings amid uproar over DeepSeek’s AI

Indian stocks set for longest monthly losing streak in over 23 years