‘Where’d the money go?’ How to handle a windfall

By HAL M. BUNDRICK of NerdWallet

Receiving a financial windfall is exciting. Your emotions soar with the possibilities: a new car, a vacation, or perhaps paying off debt. It’s your money personality that drives your response to sudden cash. Knowing how you have handled money in the past can guide your plans for a windfall. Earned windfalls, such as an employment bonus, are typically treated with more consideration than sudden unearned money, like winning the lottery. Because it wasn’t worked for, it’s often spent recklessly. Consider your attitudes about money, your values and life goals before receiving or spending a windfall to relieve stress and make a decision you’ll be happy with over the long term.