Having a plan seems obvious. We always talk about creating budgets, saving money, and building an emergency fund. These are important and worthwhile plans. But don’t forget to make a plan for unexpected money.
Say, for example, your tax refund. Making a plan for how you will use that money will help you use it more wisely and prevent wasting it. As another example, what if you get an unexpected refund check from your insurance? Depending on the amount, perhaps put 80% of the check in your savings account and treat yourself to a nice dinner with the rest?
Determine ahead of time how you will use unexpected money to best help you reach your goals. We all love the surprise of finding $10 in our pants pocket. Why not make a plan to save half of it and use the rest for fun?