The average federal tax refund this year will be $2,803. That's some hot cash right there. How are YOU gonna blow it?

Capital One just released the results of a survey, so you can see how other Americans are going to spend their refunds.

--22% will use it to pay down debt . . . 16% will put it in the bank . . . and 4% will invest it. But at least 35% plan to blow ALL of it. And here's how . . .

--30% will use the money on everyday expenses. Do those guys know how to party or what?!?

--23% will spend it on a vacation.

--16% will spend it on clothes, shoes, or accessories.

--15% will buy an iPad, TV, phone, or some other electronics.

--The rest will use it toward other major purchases. (PR Newswire)