If you are one of those people who would immediately spend a sudden windfall, you are impulsive by nature and have little anxiety about the future. You are confident that you will always be able to earn whatever amount you need to meet normal expenses. You choose to concentrate on the “here and now” issues of life rather than worry about tomorrow. You often shop for items without bothering to compare prices or look for sales. Occasionally, you find yourself temporarily strapped for cash, but it seldom dampens your enthusiasm. You may also judge whether you can afford a purchase by whether you can afford to make the payments rather than its actual cost. Your savings are minimal and are probably forced savings, such as your employer’s contributions to a 401(k) plan or extra payroll deductions for income tax.

Some people would save the $100 they received. If you are one of them, you are cautious and conservative in your money handling. At minimum, you live within your means; more than likely, you include a certain amount for savings in your budget. You may be saving for a specific purpose, such as to purchase a new home, or your savings may be a generic hedge against unexpected expenses. When shopping, you are likely to at least see what might be on clearance, and you keep up with which retailer offers the best prices on items you purchase frequently. You believe in frugality, but you are not a miser. You feel no need for instant gratification, and are willing to wait to find a sale or until you have the cash in your pocket to pay for it in full.

An unexpected bonus is sometimes used to pay off debt. People who do this generally fall into one of two categories. Either they are struggling with debt, often through no fault of their own, or they are the type who simply abhors owing money. Sometimes, if debt is a constant problem, paying off credit cards and loans seems like the best answer. The problem is that you tend to fall back into debt quite quickly if the original debts were caused by overspending. If this is your problem, you may be failing to view purchases made by credit cards or checks the same as cash purchases. Those who suffered a major expense are less likely to lapse back into debt if they pay off their bills with the windfall. They are also more likely to establish a savings plan to guard against a repeat of the debt. Those who just do not like debt are more likely to have savings, carefully budget income and expenses, and weigh all options before making a purchase.

Those who would invest the money received can also be classified into two categories. The first is seeking to accumulate wealth in the fastest method possible. You are willing to take risks with your money if the return is substantial. You tend to spend more than you should and derive satisfaction from being the one who picks up the check or lavishes gifts on your friends and family. The second type of investor has some concerns about the future. You want to have enough money to live comfortably in retirement and are seeking to establish a nest egg for this purpose. Your investments are generally safe, solid picks such as mutual funds with a proven track record or “blue chip” stocks. You normally live well under your means and have an emergency savings plan in addition to your investments. You are cautious with your money and spend little on what you consider a non-necessity.