As another tax season (thankfully) comes to an end, some of us may need a good riddle to lighten the mood.

Mark Twain is credited with this one: “What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.”

Okay, maybe this tax season hasn’t felt quite that bad for some, and there are even some folks looking forward to a refund. If you are fortunate enough to receive a refund, these tips can help you use that refund wisely to improve your financial life.

First and foremost, if you have balances on high-interest debt, such as credit cards, use your tax refund to pay off as much of your debt as possible. You’ll not only reduce your balance, but also the interest you’ll pay over time.

Plus, each debt you eliminate frees up more money to put toward paying down the next debt or other financial goals.

If your credit card debt is under control, look next to having an emergency fund that can cover three to six months of living expenses.

Having this financial cushion helps avoid borrowing or potential financial hardship in the face of unexpected expenses (like unexpected medical bills or a furnace replacement) or a loss of income due to job loss or an illness that prevents you from working.

You can use the money you've saved to cover your bills so you don't face foreclosure, repossession or other serious consequences.

Once high-interest debt and emergency funds are taken care of, the next logic choice is to invest for the future. This includes such things as: saving for a big purchase, like a down payment on a home; contributing to a retirement plan, such as an IRA; or better yet, maximizing any employer-matching benefit — which is effectively like getting free money.

Since tax-sheltered accounts restrict your annual contributions, you can build wealth beyond retirement accounts with a taxable brokerage account.

If all of the above are already in place, consider the return you could get by investing in yourself. By this, I mean continuing education, degrees, licenses or certifications that might advance your career or help you reach job-related goals.

Don’t let your tax refund burn a hole in your pocket. Remember a tax refund isn’t a bonus check — its money that was yours all along.

Put the money to work by improving your financial situation, rather than blowing it on some unnecessary or impulsive splurge. Leverage your tax refund in a way that can grow your net worth based on what you currently owe, and your current and long-term financial goals.

Wendy Bennett is a senior financial adviser at Bennett Associates Wealth Management in Butler.