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by vivegi 1427 days ago
In general, paying off debt (if any) first is good.

If you have money left after paying off debt, pick a % of the temporary windfall that you are comfortable spending and spend it (doesn't matter what categories you want to spend them as long as they are meaningful to you).

Take the remaining and save it. Since you say you are already saving, just add this on to those same saving instruments.

You can apply this principle to any incremental dollar received over your average base income eg: annual raises, bonuses, cash gifts, winnings, inheritance etc.,

Your saving (or investment) pattern i.e., which savings/investment instruments you choose depends on your risk profile.