13 WTHR IndianapolisMany Americans plan to save tax refunds in 2012

Many Americans plan to save tax refunds in 2012

Posted: Updated:

A new survey shows Americans won't easily part with their tax refunds this year, with more people planning to save the cash.

The National Retail Federation reports of those expecting a refund, 44 percent said they would stash some of it in savings. That's up from 42 percent last year.

Nearly 40 percent said they'd use the money to pay down debt, while just under 30 percent said they would spend it on everyday expenses.

Just 12 percent said they'd use their refund on a major splurge, like a new television.

The NRF says about two-thirds of taxpayers are expecting a refund this year.