Boston has always been a city focused on money – we have the financial district on Boston Harbor, the headquarters of many large financial institutions and we all care deeply about our own financial responsibility. Well, with Tax Day approaching and potentially a little extra cash in people’s pockets, Capital One took a look at the ways that Bostonians are spending or saving those extra dollars this year. Here are some highlights:

Treat Yo-self: More than half of Boston respondents (53%) would rather save their tax refund for something they “want” later than spend their tax refund now on something they “need.”

No Boston Tea Parties: Almost half (49%) of Bostonians are willing to forgo their liquid buzz by giving up caffeine for a year to get a bigger bonus.

No Parties At All!: Almost as many (40%) say they are willing to turn down every party invitation for a year to get a bigger bonus.

When faced with using their bonus or tax refund, Boston respondents have two primary reactions – spend it or save it.  While 44% of Boston residents say their first instinct is to sock their bonus away for a rainy day or retirement, more than a third (39%) say their first instinct is to use it to cut down their debt and make needed purchases. There is a similar “save or spend” dichotomy in play for spending tax refunds: Almost half (45%) say their first thought is to save their tax refund, while almost as many (41%) say they plan to use it to cut down their debt or make needed purchases.

To help people save a little easier, 360 Savings from Capital One offers everyone a high-interest savings account that is currently 0.75% APY and features no fees and no minimum balance required, allowing customers to re-imagine banking and not just instinctively spend or save their extra dollars. Visit any one of the five Capital One Café locations in Boston to learn more from a Capital One Ambassador.

Here are some more eye-opening results of the survey:

Nixing Sweets, Sweethearts and SIM Cards: A third (33%) of Boston residents say they would be willing to eliminate all snacks from their diet for a year to get a bigger bonus and almost as many (32%) say they would nix date night for a year to get more bonus bucks.

Only a quarter (25%) of Bostonians are willing to go on a year-long digital detox with limited access to their phone, internet, tablet and social media for a bigger bonus.  Bostonians seem glued to their devices as a whopping 40% of people nationally would ditch phone, internet and social media for a year for a bigger bonus.

Financial Pragmatism Prevails in Boston Those living in Boston prefer to take a straightforward approach to using their bonus and tax refund money, often putting needs ahead of wants – leading to a positive emotional impact.  More than two thirds of Bostonians (68%) say that being practical is the best approach to using their bonus, and even more (77%) agree that having a practical outlook is best when approaching  a tax refund.  Almost a third (30%) say they will likely use their bonus to pay down debt, and even more (35%) say they will likely deposit their bonus into savings.  When it comes to spending their tax refund, nearly half (45%) say they feel good about spending it on the things they “need.”

To spend a little smarter and feel a little bit better, try out Level Money, available on iOS and Android. It helps users spend smarter with a simple clear picture of their finances and their “spendable,” or safe to spend, amount of money for the day, week and month.

Wishing for an Adventure:  More than two thirds (69%) of Boston residents say they would pick a dream adventure trip like rock band camp, rainforest hiking or skydiving  if they could do anything with their bonus money. Users can easily set up Online BillPay from Capital One to make sure they’re never late for a scheduled payment again. And if they are, Capital One will take care of late fees up to $50 per payment if payments scheduled on time arrive late.

To find out how those outside of Boston are reimagining their tax refunds, check out the video below.

To find out how those outside of Boston are reimagining their tax refunds, check out this video!