By Tim Kowols
Large tax refunds, injury settlements, and unknown inheritances can add money to your bank account, but also requires some additional planning to make sure it lasts. For low to middle income families, it can be easy to take those large sums of money and throw it at outstanding debt or a large project. Gay Pustaver from Money Management Counselors says you should not act so quickly if you can afford to assess the situation.
Pustaver recommends making a spending plan to make sure your financial windfall is put in the right places. You can listen to the entire Money Management Monday interview with Gay Pustaver below.