Tax season isn't exactly anyone's favorite time of year, but the refund at the end of it? That's a different story. For many Americans, that check represents something real, like a chance to finally pay down debt, build a little cushion, or make a purchase they've been putting off.
To find out how people are actually putting that money to work, CouponFollow surveyed 1,000 Americans about their tax refund plans. What we found says a lot about where people stand financially and what they're hoping for in the year ahead.
When a refund hits, the decisions people make with it tend to reflect their broader financial reality. Here's what the numbers reveal.
Nearly half of Americans (47%) said they actively stack their tax refund with other savings tools. They do things like combine it with coupons, like TurboTax promo codes during tax season, cashback apps, credit card rewards, or other discounts to maximize the value of their purchases. This approach allows shoppers to make bigger purchases while still keeping costs under control.
One-third of Americans said they plan to put their refund into savings this year. Younger generations were especially likely to take this approach (38% of Gen Z and 37% of millennials). Another 20% of Americans plan to spend the extra cash on everyday essentials, while 18% would use it to pay down credit card debt.
Some consumers are turning to new technology for guidance. One in 10 Americans said they have used an AI tool to help decide how to use their tax refund. Gen Z was the most likely to rely on AI for financial decisions, with 18% reporting they had done so.
Others are concerned about what will happen if they don't get a refund. More than 1 in 4 Americans (27%) said they would struggle to afford it if they owed money at tax time.
Receiving a tax refund often encourages shoppers to think strategically about how to stretch that money further.
Nearly half of Americans (47%) said they actively stack their tax refund with other savings tools. They do things like combine it with coupons, cashback apps, credit card rewards, or promo codes to maximize the value of their purchases. This approach allows shoppers to make bigger purchases while still keeping costs under control.
Overall, 38% of Americans have timed at least one major purchase to coincide with receiving their refund, and 23% have considered doing so. Among Gen Z, 32% reported intentionally scheduling major purchases around their refund.
The top 3 big-ticket items Americans most often buy with their refund include:
Receiving a refund can also change how people shop in the weeks that follow. Some (28%) hunt for deals more aggressively after receiving their refund, while others (35%) feel more financially conscious about spending.
For many households, a tax refund serves as a financial safety net rather than a windfall.
More than half of Americans (52%) said they have relied on their tax refund to catch up on bills they were already behind on. For 15%, this situation occurs regularly each year, highlighting how important refunds can be for maintaining financial stability.
Despite that reliance, refunds rarely create long-term financial change. Only 12% of Americans said a tax refund had ever been a true turning point for their finances. Meanwhile, 52% reported that receiving a refund did not significantly change their spending or saving habits.
How quickly people use their refund also varies widely:
At the end of the day, most Americans aren't popping champagne when their refund hits. They're catching up on bills, padding their savings a little, or finally pulling the trigger on something they've been putting off for months. It's less about a windfall and more about a breather, and for plenty of households, that's exactly what they need.
CouponFollow commissioned an online survey of 1,000 Americans to explore how people think about, plan for, and ultimately spend their tax refunds. The survey was conducted in March 2026. The sample included adults across these generations: Gen Z (17%), millennials (50%), Gen X (24%), and baby boomers (9%). The sample was 46% male, 53% female, and 1% nonbinary or other. For questions involving open-ended dollar amounts, outliers were removed using the interquartile range (IQR) method prior to calculating averages.
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