You hit your quota, you won the lottery, you received an inheritance, you got a bonus—either way today you are $10,000 richer. Before you hit up Amazon.com and buy yourself some crap you don’t need, take a deep breath and get your mind right.

Here are 10 things you should do before clicking “buy it now.”

1. Put some money aside for the IRS (if it’s taxable money!)
   1. You need to be prepared if you will owe more taxes than normal in April. (talk to a CPA)
2. Pay off any large credit card debt
   1. Knock that debt out as quickly as possible and reduce your interest payments
3. Pay down your student loan
   1. Student loans are drowning many American- pay down a chunk with this $10k!
4. Open a online bank account and build an emergency fund
   1. If your debt is gone, you need to protect yourself against future issues; an emergency fund will do just that. It isn’t sexy, but it will keep you out of trouble.
5. Fully Fund your IRA/Roth IRA for the year
   1. The max is $5500 or if your over 50 years old $6500- get your money in there so you don’t have to scramble at tax time.
6. Open an investment account and invest in a diversified portfolio
   1. If you have goals that are 5+ years away, invest in the stock market to get your money to work for you.
7. Increase your 401k contribution because you can live on the $10k instead of your salary for the next couple of months
   1. You can only contribute to your 401k via payroll, so up your payroll percentage to get the full $10,000 into the retirement plan and live on this new found money.
8. Make a donation to a charity
   1. Do some good and donate to a charity that is important to you. Use www.charitynavigator.org (not endorsed by IFS) to compare charities.
9. Repair or improve your house
   1. Use this money increase the value of your home. An upgraded bathroom and kitchen can go a long way in home values. Check out how much here! (not endorsed by IFS)
10. Buy something nice for your spouse—they deserve it
    1. Let them share in the new found money. Arguments about money are high on the list for reasons people get divorced.  Share, Share, Share!

After you have done all of the above, whatever is left over you can use to get yourself a little something…

I‘ll even make it nice and easy for you.  www.amazon.com

As always, you can consult with me to discuss your current financial situation.

Look for future posts on the best ways to save for retirement  and check out my recent post about 4 Mistakes that Can Cost You $100,000

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Thanks for stopping by and I hope you achieve financial success!