A recent survey by Talker Research indicates that the typical American anticipates receiving about $1,700 in tax returns this year.
In 2025, it appears that Americans may not be able to spend their tax refunds as lavishly as they formerly could.
The majority of middle-class Americans will be using their tax refund this year to pay for bare essentials because, regrettably, they are finding it difficult to make ends meet and keep up with their obligations.
Seventy-seven percent of Americans are aware that they will use the “extra” money for credit card debt repayment, grocery shopping, and rent.
According to a 2015 Georgetown Institute for Consumer Research research, Americans intended to use 33% of their refund checks for debt repayment, 33% for savings or investments, and 33% for enjoyable items.
As you can see, the typical American has been compelled to alter their purchasing patterns in just a decade. That probably has a lot to do with inflation, a problem that has persisted since the pandemic and is not going away.
According to research, only 8% of individuals will be purchasing so-called luxury goods and living their lives as they did in 2015.
Most Americans will have to immediately spend the refund on groceries, gas, and credit card payments rather than purchasing a new jacket or shoes for themselves or their children.
Womp. Where have the good old days gone?
