7 money-savvy ways to spend your tax refund

For millions of Americans, the biggest spur to finish their tax returns every spring is the prospect of getting a big chunk of cash at the end of the process.

Averaging $3,100 this year, the tax refund is an important source of income for many households — bigger than any single paycheck for most people. A lump sum can be an opportunity to meet financial goals, such as paying down debt, starting an emergency fund or even saving toward a down payment, according to financial advisers. 

Here's what personal finance professionals say about spending that money wisely.