Blacksburg resident Clare Levison is a Certified Public Accountant. E-mail her with questions or comments. Self-Help is a weekly feature written by guest columnists on various topics, including finance, fitness and nutrition. If there is a topic you would like to see, e-mail us.

It's tax time, the most wonderful time of the year.

Well, not really. But many of you will get a refund, and a few extra dollars in your pocket is a good thing.

I was recently asked to speak about smart ways to spend your refund, but I think my answer could more appropriately be titled: "Smart ways to save your refund."

If you owe taxes this year, you have my condolences. If you're getting money back, here are my top three tips for what to do with your refund:

No. 1 -- Start or enhance your emergency fund: Do you have at least $1,000 in a savings account? If your answer is no, you should make it a priority to stash away enough to have a minimum $1,000 safety net.

If you already have that much saved, you've made it over the first hurdle. Now you need to work on setting aside enough to cover six months' worth of living expenses.

And remember, don't keep your savings account at your regular bank. It will be too easy and too tempting to pull money out. Put your emergency fund in the bank across town where it is not as easily accessible, because this account is only for true emergencies.

No. 2 -- Pay off debt: Start with credit cards, or if, heaven forbid, you have any payday loans, put those on the priority payment list as well.

If you're in good shape on your consumer debt, put the money toward your car loan or home equity line. Most people have some form of debt they could use their refund to pay down.

No. 3 -- Save for an expense you know is coming: Get ahead of the game by planning and saving for an upcoming expense: Are you going on vacation? Will your vehicle need new tires soon? Is your washing machine nearing the end of its useful life?

Don't be caught without the money to pay cash for these kinds of things. These are not emergencies.

Let me repeat that: If you can plan for an event, it is not an emergency. You must budget for it and save for it.

A check in the mail, or direct-deposited into your bank account, may seem like a windfall and a cause for a spending celebration.

But it's far better to use that money to further your financial security.