Comments on: What to Do with a Windfall http://www.getrichslowly.org/blog/2006/05/30/what-to-do-with-a-windfall/ personal finance that makes cents Sun, 08 Nov 2009 11:42:27 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: VinTek http://www.getrichslowly.org/blog/2006/05/30/what-to-do-with-a-windfall/#comment-163 VinTek Tue, 30 May 2006 21:29:52 +0000 http://www.getrichslowly.org/blog/2006/05/30/what-to-do-with-a-windfall/#comment-163 I consider everything outside of my regular salary a windfall, no matter how small, and apply it to savings/investment. I get a bonus at work, it's a windfall. I get a tax refund, it's a windfall. I get a $15 mail-in rebate for some widget I purchased, it's a windfall. The reason I do this is because I lump income into 2 basic categories: income that I can depend on, and income I can't depend on. Anything I can't depend on is a windfall and useable for future growth. I allow enough money out of my "regular" income to have "treats" so I don't feel deprived. I must say, it's worked rather well over the years. I think it's helped me save a lot more than I would have otherwise. I consider everything outside of my regular salary a windfall, no matter how small, and apply it to savings/investment. I get a bonus at work, it’s a windfall. I get a tax refund, it’s a windfall. I get a $15 mail-in rebate for some widget I purchased, it’s a windfall.

The reason I do this is because I lump income into 2 basic categories: income that I can depend on, and income I can’t depend on. Anything I can’t depend on is a windfall and useable for future growth. I allow enough money out of my “regular” income to have “treats” so I don’t feel deprived. I must say, it’s worked rather well over the years. I think it’s helped me save a lot more than I would have otherwise.

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