Imagine you just received an unexpected gift of money, won a lottery, or your business did much better than expected. Suddenly you have extra money that you need to decide what to do with. What do you think you would do with it?
The answer will be different for everyone as we all have different ideas for what to do with extra cash. Due to our unique situations in life, it might make more sense for some of us to pay down debt, while others should be topping up their emergency fund a bit more. Still others might be wise to invest in the stock market or start up that business project they’ve always wanted to work on.