ROANOKE, Va. -

Hal Reynolds is a Certified Financial Planner (CFP) with Investors Financial Advisors.

Reynolds says the best way to spedn your tax refund is by looking at the best way to reduce financial stress.

The first area would be debt. If you're paying credit cards with 21% or over in interest this would be a great place to spend some of your refund.

Reynolds also suggests putting some of the refund money in an emergency account. "A checking account, a savings account, or a money market account that could be used if you need to replace tires on your car, an appliance goes bad, or you have a medical emergency."

For those with a higher income, if you don't owe money, Reynolds says to look at your goals.

Education or retirement is a great opportunity to set some money aside. Place money into a traditional IRA that's deductible or a Roth IRA that could grow and be paid out in a tax favored basis in the future.

Reynolds also suggests giving to charity and if you can afford it, a warm vacation!