More Americans Stretching Tax Refunds Further This Year as "Needs" Top "Wants"
~ 78 percent vow to spend this year's tax refund wisely ~
SAN DIEGO, April 2, 2012 /PRNewswire/ -- This year, one in two Americans receiving a tax refund (50 percent) say they plan to spend the extra money on bills or other household expenses, as opposed to vacations (15 percent), leisure activities (8 percent) or gifts (4 percent), according to a recent poll from Cricket Communications.(1) The survey also noted that more than three-quarters (78 percent) of Americans receiving their refund will be "smarter" about how they spend it, with more than half (55 percent) pledging they are more likely to use refund dollars on practical "needs" instead of "wants."
To provide additional assistance for any last minute tax filers who also want to extend the life of their tax refunds this year, Cricket Communications, a leading provider of innovative and value-driven wireless services, has partnered with Liberty Tax Services® to offer savings on tax preparation and the latest Cricket mobile devices. In participating Liberty Tax locations through April 5, Cricket customers will receive $50 off tax preparation when filing their taxes with Liberty Tax Services®. In addition, with a tax service receipt, customers will also receive $20 off a new Cricket phone, or 20 percent off any accessory at participating Cricket Wireless store locations across the country.
"This is a great community partnership with Liberty Tax to combine our mutual goals of smart, practical spending and savings for our customers. By offering discounted tax services and tips, to savings on the latest, no-contract smartphones at attractive value-priced monthly rates, we are providing an opportunity for current and new customers to save well beyond their tax refund," said Annette Jacobs, president, West Area for Cricket Communications.
Stretching Tax Refund Dollars
Cricket has also partnered with certified financial planner and savings expert Robert Pagliarini, author of The Other 8 Hours, Six-Day Financial Makeover, to offer additional tips on helping people stretch tight tax refund budgets.
- Set up an emergency fund – Stocking away six to twelve months of expenses can really help individuals and families who have found their home equity line of credit has been reduced -- or an unexpected medical fee arises.
- Open a 529 College Savings Plan – According to the National Center for Education Statistics, the cost of a college education continues to rise every year. Between 1999–2000 and 2009–10, prices for undergraduate tuition, room, and board at public institutions rose 37 percent, and prices at private institutions rose 25 percent, after adjustment for inflation. Planning early and setting aside money for college now is the most important thing you can do for your children's collegiate success.
- Seek out classes to boost budgeting skills – Taking a refresher course at a community college or neighborhood center can help boost financial planning skills that you currently have or help you learn a new one.
- Research the best deals on monthly expenses – There are expenses you will incur each month, such as food, transportation and cell phone costs, which are easy to re-evaluate and cut as long as you do the right research. For example, choosing a pre-paid wireless provider such as Cricket will help you save hundreds of dollars each year, without sacrificing all of the fun apps, games and music that your family can't live without. Cricket has the latest devices with a no-contract plan that includes unlimited talk, text and data for less than half what you'd end up paying at a larger wireless provider.
For more information about Cricket's devices and no contract service plans, as well as Cricket locations participating in the Liberty Tax Services® promotion, visit www.mycricket.com.
Cricket is the pioneer and leader in delivering innovative value-rich prepaid wireless services with no long-term contracts serving more than 5.9 million customers. Cricket offers wireless voice and mobile data services over the latest, high-quality, all-digital 4G (LTE) and 3G CDMA wireless networks. In 2011, Cricket launched its award-winning Muve Music product, the first music service designed for a wireless phone that now has more than 500,000 customers. Cricket's innovative products and services are available at Cricket branded retail stores, dealers, national retailers and at www.mycricket.com. For more information about Cricket, please visit www.mycricket.com. To follow Cricket's latest news and updates online, go to Facebook at www.facebook.com/cricketwireless and Twitter at www.twitter.com/cricketnation.
(1) The study, commissioned by Cricket Communications, surveyed a national sample of 1,000 American adults ages 18 and older. The margin of error for the total sample is +3.1% at the 95% level of confidence (Fielded by TNS in March 2012).
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