Getting a tax refund presents you with a great way to improve your finances. Here are 5 ways to put that windfall to great use!

1. Start an emergency fund – Don’t put this off any longer. There’s no better way to prepare for life’s unexpected expenses than to have a stash of funds to cover them!

2. Invest in an IRA – It’s never too early to start contributing to your retirement, and investing in an IRA will help secure your future.

3. Pay off debt – Use your refund to tackle your debt load, beginning with the debt that carries the highest interest first and working your way down from there.

4. Save – If you already have an emergency fund and don’t need to use the funds to pay debt, consider putting it in a high-yield savings account so you can earn more as you save.

5. Invest – Investing is key to building wealth for the long term, so investing your refund is a great way to grow your money over time.