Millennials are more likely to save their tax refunds.
Millennials are making smart decisions with their tax refunds. A report by GOBankingRates shows that more than half of millennials surveyed said they are saving this year’s tax refund. Over half of older millennials, people ages 25 to 34, said they will use their tax refund to pay off old debt. Millennials have come a long way compared to last year’s survey. Young Americans were more likely to splurge their tax refund last year.