Unexpected Money

Updated 12 months ago

What to do with money that came in beyond your paycheck? Let’s talk! It could be a bonus, or an overpayment returned to you. Whatever it is, and depending on how much, here are some tips for you.How much- If the amount was small, for instance, less than $50, your options are less than if the amount is $5,000. You may have suspected that this money was coming and you may already have a plan, but it may be a silly plan. So I want to suggest a few options for you. Do the right thing- You know what that means: pay down or off, credit cards first. Why? Because that will make everyday life less stressful. You could also make a little emergency pile for a rainy day. I know this sounds like your grandmother talking, but that’s because peace of mind last a really long time and being financially cozy is peace of mind. It sounds boring but it’s still good for you.If it’s enough to do the first two things, perhaps you could do some planning for a cozy future, when unexpected money is less likely and when your income has stopped. Just a thought to make your future brighter. Have fun- with a bit of the funds, have fun. Whether modest fun or a blow-out- depending on how much unexpected money you received, have a celebration. Citation:http://www.consumerismcommentary.com/unexpected-income-windfall/ Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Vote Norumbega Financial for Bangor’s Best Financial Planning Firm at Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.


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