Last year, we taxpayers received about $2,700 income tax refund.  This year, around 75 percent of us will again get refunds from Uncle Sam and the average will be about $3,000. 

According to Money.MSN.com:

 "The perception is that people get a refund and buy a high-definition TV, but the reality is that people are using refunds to pay down debt, buy necessities, or save," says Bob Meighan, the lead CPA with Intuit TurboTax’s American Tax And Financial Center.

According to a survey by the National Retail Federation,  37 percent of Americans who receive a refund plan to use the funds to pay down debt. I'm not sure how things run at your house, but it's certainly the way things go down at Casa de McCoy.  No Caribbean cruises or extra big screens.  We have other mouths to feed.  Those mouths belong to the kids of Mr. Discover and Mrs. Visa and there's those mean little kids that belong to the Exxon, Mobil and Texaco families.  I know, it's boring, but times are tight and when the going gets tough...the tough try to pay cash; at least 'til the account goes dry.   If you're getting a refund, how will it be used?

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