Nearly 4 in 10 Plan to Spend Tax Refund on Cosmetic Treatments

Demographics, News

Tax refunds may be delayed this year, but that doesn’t mean Americans don’t already have plans for their impending checks. The influx of cash from Uncle Sam is a great chance to pay off some debt or add to your savings. You could also join a growing group of Americans who plan to use the money for cosmetic surgery.

More than a third of RealSelf members surveyed plan to do just that. A whopping 36% intend to use all or part of their tax return to pay for a cosmetic procedure, according to a new survey conducted by RealSelf.

Only a small percentage said they planned to spend their tax return money on a vacation or new shoes. Instead, more are spending it on themselves, and crossing a procedure off their cosmetic wish list.

Where is all the money going? More people this year are opting for non-surgical cosmetic options. Over a third of the responders saving for a procedure plan to schedule Botox, an injectable filler treatment such as lip augmentation, or non-surgical weight loss treatments like CoolSculpting. That is a significant rise from a year ago.

Brazilian butt lifts and breast augmentations remain popular. More than a quarter of responders said they planned to get a BBL or a breast augmentation. Neither procedure, however, is quite as popular as it was last year. In 2016, 34% of responders planning to spend on cosmetic surgery were going for a breast augmentation. This year, that number dipped to 26%. But BBLs are nearly as popular, dropping from 27% last year to 26% this year.

If you’re planning on spending your tax refund at the plastic surgeon’s office, you may want to act quickly. Nearly 30% say they have scheduled a procedure, so it happens right after the money hits their bank accounts.

April is going to be a busy month for accountants … and plastic surgeons.

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