Recent Analysis Reveals Top Ways Americans Spend Their Tax Refund Checks

Prudent financial decisions beat out extravagant purchases.

Portland, OR (PRWeb) April 17, 2007 -- Most Americans would choose to pay off their credit card before buying a new TV, according to recent analysis. Other top choices were investing in an IRA or setting up an emergency fund.

Ryan Williams, founder of NetworthIQ, said consumers know the smart move to make with windfalls, such as a tax refund. "The question is whether they'll make the right choice when in front of the big ticket item," Williams said.

Top Ten Ways to Spend the Refund:

1. Pay off credit card

2. Start/Invest a Roth IRA

3. Pay bills

4. Start/Invest a Traditional IRA

5. Start/Invest Education Savings Account

6. Put in emergency fund

7. Travel

8. Buy a HDTV

9. Repair a car

10. Take a career boosting class

In February and March, web surfers made head-to-head choices between ways to spend a refund check. Visitors then saw a series of additional choices, drilling down to their best.

Anyone can try the site out to decide how to use their refund:

http://refunds.networthiq.com/

About NetworthIQ

Founded in 2005, NetworthIQ is a social personal finance manager where users can track their net worth and financial experiences, optionally sharing their progress and insights with the world. It has been featured in the New York Times and Business Week.

http://www.networthiq.com

About InstaFILE

InstaFILE is the only major online tax preparer to include state tax returns in one low price. InstaFILE's tax interview software is used by thousands of accountants and individuals to easily complete their return with maximum deductions.

http://www.instafile.com

Press Contacts:

Ryan Williams

NetworthIQ

ryan(at)fourio.com

503.816.7411

Adam DuVander

InstaFILE

press(at)duvinci.com

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