Agree with the suggestions already made. Something additional to consider is dividing your refund up into percentages according to your financial goals. For example, if you have credit card debt, but would also like to save for an emergency, you may consider an 80/20 split. 80% goes to your credit card debt that's also accruing interest (costing you money), and use the remaining 20% to start an emergency fund using a high-yield savings account (earning you money). For emergencies, you'll want something that's easily accessible, but if you're trying to save for retirement, ETFs are probably more ideal.