People projected that adopting a commitment device, which allows them to commit to saving before receiving their tax refund, would boost savings.
What is tax refund meaning?
A tax refund is a payment issued to taxpayers who have overpaid their taxes due to employers withholding too much from their salaries.
According to the US Treasury, over three-quarters of taxpayers have too much money withheld, resulting in tax refunds.
Thus, people are more like to make long term judgement.
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