 TITLE: How to Use Your Tax Refund During a Financial Crisis CONTENT: 3\\. Start or Add to Your Emergency Fund\n---------------------------------------\nIf your income is stable for the moment but you're worried that could change, having cash reserves may make you feel more secure and prepared. An emergency fund is a savings account dedicated to covering your expenses when you find yourself short on cash.\nIf you don't already have a savings account dedicated to emergencies, consider using your tax refund to start one. If you already have emergency savings, consider using your return to add to it. While experts often advise keeping three to six months' worth of expenses in an emergency fund depending on your ability to fund it, even $500 to $1,000 is a good start. Once you're feeling more financially secure, consider making regular deposits into this account for future emergencies.\nNot sure where to deposit your emergency savings? Consider putting the money into a high-yield savings account so you can earn a little extra interest over time than you would with a standard bank savings account. High-yield saving accounts allow you to earn up to about 2% annual percentage yield (APY), compared with the average rate of around 0.05% APY earned at conventional banks. END