Think Before You Act
While you’re figuring out what you’ll do with the money, you might want to put it in an account that will earn you money. That way, your money will be growing and you won’t be tempted to overspend before you work out a plan.
What About Taxes?
While your money is safely tucked away, find out whether you’ll owe taxes, so you can plan with the right amount.
Decide on Your Goals
This is the fun part. Now you can start planning for how you’ll use your extra money. Your options are simple: save it, invest it, spend it or a combination of all 3.