Investing

A windfall from out of the blue can be the answer to all your financial prayers or can become a nightmare if you panic. The problem is that everyone wants to give you advice on what to do.

Your head is spinning and there is the mixture of joy and fear. Joy at how the money can help your lifestyle and fear of making a mistake and blowing the opportunity.

If buying a house is your dream, then go for it. Just think it through.

But no need to panic. Here are 10 steps to follow which will ensure that big financial win sets you up for life.

1) Immediately park your cash in a high interest account.

It could be a cash management fund at your bank or a high interest online account but this a parking place for your winnings until you decide what to do with the money. The worst mistake is to be pressured into making decisions on what to do straight away. Take your time and think about it.

2) Celebrate