When people receive a settlement from a personal injury or inherit money, they are often unprepared. Family members may pressure you to give them money. It’s also common to immediately increase your lifestyle—buying a larger home, new cars, or going on expensive vacations. Without a plan, what was meant to last for years can disappear in months.

A settlement or inheritance is often money you weren’t expecting or hadn’t planned for, but now must steward—frequently with the expectation that it supports you for the rest of your life. These funds are best seen as a tool: one that can provide security, cover healthcare needs, or bring peace of mind if used wisely.

Most squander their inheritance or settlement swiftly, mistaking sudden wealth for endless riches. Before you spend your windfall, pause. Take a breath. And begin with financial wisdom.

Financial Wisdom 101

Financial wisdom is the ability to make thoughtful, informed, and intentional decisions with your money that align with your long-term values and goals. It goes beyond simply knowing how to budget or invest. It’s about applying sound judgment, emotional discipline, and strategic thinking to every financial choice you make—especially with a one-time windfall like a settlement or inheritance.

Key Traits of Financial Wisdom

• Clarity on Priorities
  Understand what truly matters to you and use money as a tool to support those values and priorities.
• Intentional Spending
  Spend in a way that reflects your values—not your impulses, and not social pressure. Decide where your money should go before you spend it. This includes setting aside money for expenses you know are coming (holidays, birthdays, vacations) as well as for unknown-timing expenses like home repairs and car maintenance.
• Preparedness for the Unexpected
  Build an emergency fund so you can adapt when life throws you a curveball. A credit card is not an emergency fund.
• Patience and Long-Term Thinking
  Avoid quick fixes and “get rich quick” schemes. Rely on consistent, proven strategies that sustain you over time.
• Emotional Mastery
  Recognize how emotions like fear, guilt, or excitement influence your financial choices. Learn to pause and reflect before you act.
• Continuous Learning
  Stay curious. Ask questions. Seek help when needed—from a coach, advisor, or trusted resource.
• Accountability
  Track your spending. Give every dollar a job. Make adjustments as needed—without shame or blame.

In Practice:

Someone with financial wisdom doesn’t just ask, “Can I afford this?” They ask, “Does this help me live the life I want, and does it fit into my plan for my settlement or inheritance?”

With that mindset, money is no longer the goal. It becomes the means to live with confidence, purpose, and peace of mind.

Take the First Step

If you’ve received a settlement or inheritance, don’t navigate it alone. Start your journey toward financial wisdom today. Together, we can build and implement a strategy that protects your money and helps you use it to create the future you want.

Schedule a conversation with me at MeetWithDoug.com.