Coming into money suddenly is something that many people dream about. However, it is not that uncommon; from lottery wins, jackpot payouts, or simply through a bonus at work. Understanding what to do with it though is not always easy though.

Initially, many people would head off on a spending spree; buying all the things they have ever wanted. But once the cars, the house and the 50 inch plasma televisions have been bought; what happens next?

Well, having bought all the gifts for the family of course; as Christmas approaches for example, it is likely the kids will definitely want the latest PS2 Transformers game for example! But before it all goes, it is well worth having some advice.

Of course, such advice depends greatly on the amount of money in discussion, but whether it is millions, hundreds of thousands or a few thousand it is always good to get it. A large amount of money suddenly arriving in your lap has been known to cause more trouble than good for many.

Whilst it is only natural to want to, ’spend, spend, spend’, this is not the best way forward. The money will be there a month, three or twelve months later. And if placed into a high interest account, this will simply be an even greater amount for you to play with!

Take some time to make a list of what is really important. Debts are likely to be something gotten rid of straight away for example, but also planning for the future is key. Many people will take early retirement too, in which case, looking at investments to provide a retiring income could be an idea.

But there will still be problems. Taxes you have to pay will inevitably rise, whilst you will be besieged with requests for money. This is bad enough, but the feelings of guilt and anger you will feel can be destructive too.

If you are lucky enough to have had a windfall, just take your time with it, seek proper advice and counseling, to give you the best chance that it really will improve your life forever. Congratulations, but also good luck, you will need it!