Are you making the most of your financial windfalls?

Are you making the most of your financial windfalls?

A financial windfall is a large amount of money that falls in your lap for whatever reason. You may consider it a financial windfall when you receive a large income tax refund, you might even win a large amount of money in the lottery. Whatever the reason, It’s what you do with that money that could make the difference in your life for months to come or even years to come.

Either way: Try this technique when you receive any money!
1. Put about 40% of that money away for a rainy day.
2. Put about 30% of the money towards the bill with the largest balance.
3. Lastly don’t forget to splurge a little. Take the last 30% and live a little.

This is just one of the ways that I’ve been able to hold on to money by creating this rule about how I split my money.