Significant gender and age gaps exist when it comes to saving money. A new survey released from Visa USA shows women between the ages of 18 and 49 will save far less of their tax refunds than any other group.

The Visa survey shows that only 30% of women ages 18 to 49 plan to put the money they receive from their income tax refunds into savings. In contrast, 40% of men in that age bracket plan to put their refunds into savings. According to the survey, women ages 50 and over are the champion savers, with 48% saying their tax refunds will be saved. Men 50 and older are close behind, with 45% saying they will invest their refunds in savings, the survey found.

"Our research has found a dramatic gender and age gap when it comes to saving money. Women under 50 save far less of their tax refunds than other groups and this could have significant ramifications for their financial health," said Jason Alderman, director of Visa USA's financial education programs. "Taking advantage of tax refunds to save for retirement or a rainy day is vitally important."

The Visa survey of credit and debit cardholders, which grouped respondents by gender and age (49 and younger or 50 and older), found the following statistics:

- Overall, 41% plan to save their refund; 31% will apply it to paying bills; 10% will use it for a major purchase; 7% will us it for everyday living expenses; 6% don't expect to get a refund and 5% don't know.

- Those planning to put their refund into savings span across all education levels, with 38% of those who have high school diplomas or less planning to save, and 41% of those who attended or graduated from college planning to save.

- Women under the age of 50 are the only group who plan to spend more than they set aside from their tax refunds, with 41% saying their refunds will go to paying bills and only 30% saying it will be saved.