PHOTO: We aren't shocked by this tax study at all. (photo via Flickr/401(K) 2012)
How will you use your tax refund windfall?
A lot of folks are about to roll over those sweet hundreds into a few nights at a hotel and a moment in the hot tub.
Where you go is completely up to you. The point is that a sizable amount of people do intend on making a trip thanks to Uncle Sam and his 'take now, give back later' largesse.
The LA Times reports on a study released from travel website AirFareWatchdog.com, which asked 700 people how they plan on spending their refund or, rather, if they plan on spending it on travel all.
Extrapolating the results suggests that many who are fortunate enough to get back some money like to invest it in priceless memories.
According to the report, 16 percent of respondents claimed they would use all of their refund on travel while seven percent considered using a majority of it. This is followed by a whopping 28 percent of respondents who said they would use at least some of their refund on travel.
If you are scoring at home, that’s 51 percent of the 700 respondents who considered at least some of their refund to be a great opportunity to stretch their legs beyond home. Of course, that means 49 percent are travel Scrooges who will tuck away their money for other reasons.
And, when it comes to a refund, it is often a substantial amount. The LA Times cites the IRS, which claims the average refund is about $3,050.
READ MORE: Hotels and Restaurants Offering Deals for Tax Day
Travel website Hipmunk states the reward is a shade better: “According to the IRS, 83 percent of tax returns result in a refund, the average of which is $3,120.”
The website also offered 20 eclectic destinations to consider the moment you get that refund in your hot little hands. Madrid, Munich and, yes, even Cuba are within reach for a three-night stay.
Of course, there are countless ways to use that refund, including stashing it away for a proverbial rainy day. But instead of buying something that will gather dust or become outdated with time, consider splashing it on an experience you will never forget.