If you are one of those who are fortunate enough to receive a cash windfall in your lifetime, here are four key steps to help you be responsible with your money:

  1. Patience is key. There is no need to rush; nothing has to be done right away. Make sure you take your time and dwell on what this money means to you and how you might want to proceed.
  2. Prioritize your goals. How does the windfall affect your entire financial situation? Should you pay off debt or increase your savings? Both are good goals, but which should come first? It all depends on your unique situation.
  3. Include decision-makers. Whether you are married or single, it’s a great idea to include people in these conversations who you know and trust, to help reason out the big picture.
  4. Get professional advice. Depending on the sum of money you have, talking with a professional may be in your best interest to help sort through all the implications as well as help you articulate your goals more clearly.