Unexpected Money? Here's What To Do!
What to Do With a Windfall: A Complete Guide to Managing Unexpected Money Imagine this: one morning you wake up and find out you’ve received an inheritance, a bonus, a lottery win, or even a generous gift. Suddenly, there’s £5,000, £50,000, or maybe even more sitting in your account. It feels exciting, maybe even overwhelming. This is what’s known as a windfall — an unexpected financial gain. While most people dream of such a moment, the reality is that many who receive windfalls end up losing the money within a few years because they don’t plan wisely. The good news? With the right approach, a windfall can be life-changing — not just in the short term, but for your long-term financial freedom. In this guide, we’ll break down exactly what to do when you receive a windfall, how to avoid common mistakes, and how to use this money to create lasting security and opportunities. Step 1: Pause and Breathe The first step isn’t to spend — it’s to pause . Many people rush to make quick de...