Six Tips on How to Avoid Squandering a Financial Windfall
Filed under: Budgets, Family Money, Wealth
What would you do if you received a sudden financial windfall, like winning the lottery, getting a big inheritance or coming into an unexpected pile of cash?
Unfortunately, many windfall recipients squander their money, going on reckless spending sprees or mismanaging their finances.
Jennifer E*. of California is determined not to let that happen to her.
She just won $100,000 from Capital One in the bank’s Big Payoff Sweepstakes.
I partnered with Capital One to provide financial literacy education to participants in the Sweepstakes, as well as to offer some one-on-one coaching to the winner of the Big Payoff. So I had an opportunity to coach Jennifer and give her some tips on what to do with her winnings, based on her unique circumstances.
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