Allie Howard

speaker

13,646 appearances 144 recordings 1 series first heard Dec 2024 last heard 7 Aug

Allie Howard’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 70 in all, peaking in Oct 2025 with 11.

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DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing · What to Do With a Windfall · 19 Jun 2026 podcast

Often, if they get an inheritance, they might think through a little bit differently depending on who they got that money from.

So let's say they received a large inheritance from their parents.

They might say, well, they really would want for us to go take a trip with our family.

So we're going to use a portion of it for that when we normally wouldn't in our goals.

So I think you can give yourself a little bit of leash in that regard.

If there is something that you feel like would be honoring to who you received an inheritance from.

for example.

But if this is a large bonus or something like that, it really just does come down to your overall financial plan.

What's coming up and where does money need to be set aside to do that?

Because we want to make sure we answer this question well, let me walk you through

For anyone listening, the basic steps, because I think we don't touch on them every episode.

We have 900 and who knows how many episodes now.

Almost 1,000 is all I know.

And so I know it's easy to get lost in the shuffle.

But number one is fast cash.

So if you're listening and you're about to get a windfall and you don't have $1,000 set aside for the random...

tire set that you'll probably need or whatever it might be then that's number one then you want to make sure okay get that from a thousand up to a decent emergency fund now depending on your scenario you can go back and you can listen and see what we recommend for how much of an emergency fund you need but in general it's maybe three to six months if you're retired it might be up to a year depending on your temperament making sure you're ready for those emergencies

and that's kind of number two and or sometimes simultaneously depending on in my opinion the interest rates but getting out of debt taking care of those things i know in this question phil you mentioned a zero percent credit card and we've talked about those before go back and listen to our thoughts there because it's really easy to get on that slippery slope maybe it makes sense to maybe not from the math side but psychologically take care of that and pay it off

But getting yourself out of debt to let that give you that freedom and liquidity that you need.

And then you've really got to look at your goals and figure out, okay, I don't have debt.

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