What To Do If You Win The Lottery!

...Give 10% to Peter. Right Away! Thank You.

---

Got Instant Money? Here's What to Do with It...

Wednesday, January 18, 2012 -- 5:00 AM

Yahoo Financial Expert Farnoosh Torabi says if you come across surprise money -- a tax return, a settlement, an unexpected severance, here's her blueprint for how you should manage your cash...

50% - Pay down debt! Farnoosh says, not necessarily your mortgage, but if you have any outstanding credit card debt, start here. If you don't have debt, then you can skip and put 90% into savings (to help pay for retirement and future big purchases like a home or college education) and 10% towards FUN.

40% - Build up savings! "If you don’t have at least a 9 to 10-month saving cushion to help pay your bills, in case you lose your job or have a financial setback, bulk up that account." She says if your retirement needs extra padding, contribute some to that as well.

10% - Treat yourself! Farnoosh says to buy something pretty and help the economy. You earned it. Try to buy something that will retain value if you need to resell it.

Get Farnoosh's Tips for Scoring Your Own Hidden Money