Whether it’s an inheritance, a valuable antique, or an unexpected stock gain, you may be lucky enough to have a lump sum of money come your way. Your immediate impulse may be to rent a private jet, buy a sports car or book yourself a week at a fancy spa, but while all those things are fun, they’re not very practical or smart.

Before you spend a penny of a windfall, put your dreams aside and focus on what’s practical.

Before spending your new-found wealth, use this guide and consider these four points:

  • Don't forget to pay taxes you owe.
  • Don't assume your lump of money makes you an entrepreneur.
  • You can't start living like a celebrity.
  • Don't share it all with friends and family.