When you don’t procrastinate filing your taxes, now is when you get a tax refund for all that diligence. But what should someone do with this welcomed windfall? If there’s a light at the end of the tunnel during tax season, it’s definitely the refund. Here are four suggestions for how to spend or save.

Tackle Debt

If you are carrying debt for a long period of time, use the refund to take a larger chunk out of it than usual. It will go a long way to improving your credit score.

Retirement Fund

Put your refund towards retirement with a substantial sum. If possible, consider contributing the maximum. This is especially smart if you have an employer matching plan.

Emergency Plan

Open a savings account in the event of an unforeseen financial emergency. Lots of people have tunnel vision when it comes to emergencies and are content living hand to mouth. But if you can use the refund as a way to secure money in case of sudden loss of income or unemployment, it’s worth it. Money will be there when you need it most.

Home Improvement

Thinking about replacing your oven or adding a skylight to the master bedroom? Don’t put off important home upgrades any longer. The time is now.

Are you expecting a tax refund this tax season? How do you plan on spending or saving this new sum? Tell us!