When managing unexpected financial windfalls, it's important to have a strategic plan in place to make the most of the money. One common strategy is to prioritize financial goals, such as paying off high-interest debt, building an emergency fund, or investing for the future.

For example, if someone receives a large bonus at work, they may choose to allocate a portion of it towards paying off credit card debt, which can save them money on interest in the long run. Another portion might go towards boosting their emergency fund, providing a financial safety net for the future.

Additionally, windfalls can be an opportunity to invest in long-term financial security. This could involve contributing to a retirement account, investing in stocks or real estate, or funding education savings accounts for children or grandchildren.

It's also important to consider seeking professional financial advice when managing a windfall, as a financial advisor can provide personalized guidance based on individual circumstances and goals.

References:

1. "The Financial Windfall: Receiving Unexpected Money" - Forbes
2. "Managing a Financial Windfall" - Investopedia