 TITLE: How to Use Your Tax Refund During a Financial Crisis CONTENT: 2\\. Pay Your Credit Card Debt\n-----------------------------\nMaking your debt payments on time every month is important to your credit standing and to your financial stability. If you don't have a source of income or your income has been reduced, you can use your tax refund to make at least the minimum payments on all your accounts until your situation improves. (If you know you don't have enough money—even with your refund and any government stimulus money you've received—to pay your credit card bills, contact your creditors immediately to see how they may be able to assist you.)\nIf your situation allows, you may want to spend some of your refund to pay down high-interest credit card balances. This type of debt can be costly to hold over time, especially if you're only paying the minimum. Reducing your debt on credit cards that are costing you the most in interest can help you save money you can then use to cover your monthly expenses, add to your emergency fund or pay down other debt. Start with the card with the highest interest then, if you have enough left over, pay down the card with the second highest interest and so on. END