(NEXSTAR) – If you beat the tax filing deadline and managed to get a refund as well, you may be wondering what to do with the sudden influx of cash.

The average refund in 2024 was $3,011, according to the IRS, up from $2,878 the year before – but should that money go to paying down debt, investing or maybe a summer vacation?

While everyone's financial situation is different, experts have a few tips to consider after receiving a tax refund.

What to do first?

With inflation driving up the cost of basic necessities and the boon of stimulus checks an increasingly distant memory, many Americans may be balancing credit card payments and attempts to sock money away in savings or retirement accounts.

"In many cases what we're seeing is emergency savings have been wiped out, we're seeing a slight uptick in revolving debit," Arijit Roy, head of consumer segment & solutions at U.S. Bank told Nexstar. "All of that is to say that the ideal situation would be to first when you........

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