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What Should You Do With an Extra $1,000?

So you find yourself with an unexpected, unbudgeted $1,000 sitting in your checking account. You don’t have to think about how that nice sum got there, but you do need to figure out what to do with it. It might be tempting to use the money on a series of small luxuries, but it wouldn’t be smart. And beyond fleeting glimpses of instant gratification, it wouldn’t be very satisfying. Make the most of your windfall by planning for it immediately. Assess your current financial and material needs, your goals for the immediate and far future, and decide where your $1,000 could best be spent or saved. Not sure where to start? Here are some smart ways to spend an extra $1,000: Begin or Bulk Up an Emergency Savings Fund While most experts recommend you keep around six months’ worth of living expenses in an easily-accessible savings account for emergencies, surveys…

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