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Money makes the world go ‘round, so what happens if some surprise cash comes your way? According to a study from financial services company Empower, which surveyed 1,011 Americans in early March 2026, 65% of Americans said they’d save or invest any money they’d receive from a financial windfall (1). When it comes to debt, 52% said they’d put money towards it and 37% indicated they’d get immediate financial relief by using it to pay their bills.

Okay, so that’s what people say they would do with their winnings. But what should people be doing with the money?

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Let’s pretend that Arya just turned 30 and her aunt gave her a $10,000 birthday gift to celebrate the milestone. Arya has to figure out what to do with all that cash and she’s just not sure about the best approach.

Here’s what financial experts recommend.

It may seem like the obvious solution, but resolving burdensome debt is probably the best thing to do with a $10,000 windfall, if you owe money.

“My first recommendation would be to pay off or make a significant dent in high-interest debt, particularly credit card balances. Earning 4% or 5% in a savings account is nice, but eliminating debt with interest rates in the teens or even higher often provides a much greater financial benefit,” Mary Ware, senior wealth advisor and managing partner at Carnegie Private Wealth in Charlotte, North Carolina, told Moneywise (2).

With the average credit card interest rate at 21% as of February 2026, few investments are going to beat the ROI you get from paying off credit card debt (3).

“Lingering credit card balances can quickly compound against us,” Clifford C. Cornell, financial advisor at Bone Fide Wealth, LLC, told Moneywise. “A windfall of this nature could be exactly what someone needs to level the playing field” (4).

If you’re in a similar situation, a sudden $10,000 windfall can feel like a financial reset button. But there are also more ways to take that windfall further: consolidating debt.

If you’re carrying balances across multiple credit cards or personal loans, debt consolidation could help simplify your finances by rolling everything into one loan with a potentially lower interest rate.

Instead of keeping track of several due dates, interest charges and minimum payments, you’ll have one predictable monthly payment. What’s more, lowering your interest rate could mean putting less money toward interest and more toward actually paying down the balance you owe.

Through Credible’s online marketplace, finding the right loan becomes that much simpler.

You can comparison-shop for the lowest interest rates with just a few clicks for free.

In less than three minutes, you’ll see all the lenders willing to help pay off your credit cards or other debts with a single personal loan. You can find personal loans starting at 5.96% APR. Credible also offers a best rate guarantee — and if you close with a better rate than you prequalify for on the platform, you’ll get a $200 gift card.

If you owe a substantial amount, you may also want to see if you qualify for a debt relief program to help clear a significant portion of your debt.

With Freedom Debt Relief, you can speak with a certified debt relief consultant for free, who can show you how much you can save by partnering with them.

If you’re eligible, they can negotiate settlements with your creditors until all of your enrolled debt is resolved.

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Because Arya isn’t in debt, bulking up her emergency fund would be the next best place for her $10,000 to go. “I’d encourage people to ensure they have at least three-to-nine-months’ worth of living expenses set aside as their cash reserve,” Cornell told Moneywise.

While it’s an older study, published back in October 2015, Pew Research found 60% of households had experienced a financial emergency over the previous year (5). Being prepared for these unexpected expenses prevents future debt and provides peace of mind.

“Many people’s financial lives were devastated by the pandemic,” Robert R. Johnson, a professor of finance at Creighton University’s Heider College of Business, told Moneywise. “To those who were unaffected, the pandemic should serve as a lesson to get their financial house in order. There may be another catastrophic event in the future” (6).

Building an emergency fund is one of the first steps toward financial security. It can help you handle unexpected expenses without reaching for a credit card or taking on expensive debt.

But where you keep that money matters.

Leaving your emergency savings in a traditional checking or savings account could mean missing out on potential returns — especially while interest rates remain elevated.

A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That’s ten times the national deposit savings rate, according to the FDIC’s March report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8 million FDIC Insurance eligibility through program banks.

Since Arya’s already got her emergency fund in place, experts say her next step is to invest with her newfound $10,000, either for retirement or for other milestone goals.

“If you are behind on retirement savings, I would consider putting money away for retirement,” Domenick D’Andrea, founder of DanDarah Wealth Management, told Moneywise (7).

“Brokerage accounts, Roth IRAs, HSA, 401(k)s are all great places to look,” says Cornell. The right account depends on whether you want to save for retirement, healthcare, or even a short-term need.

Low-cost index ETFs tracking the S&P 500 are popular among long-term investors because they offer broad market exposure without the high fees often associated with actively managed funds. Historically, the S&P 500 has delivered roughly 10% average annual returns over long periods (8).

While Arya may have a $10,000 windfall to put toward her goals, many Americans are starting with much smaller amounts. In fact, roughly 3 in 10 Americans have more credit card debt than they have in emergency savings, according to a Bankrate survey (9).

There’s a silver lining — you don’t need a huge lump sum to start investing. Even modest contributions can add up over time thanks to compound growth. The most important step is simply getting started and staying consistent.

For instance, investing just $20 each week can add up to over $180,000 in 30 years if it compounds at 10% annually (10).

If those kinds of returns are too tempting to pass up, platforms like Acorns allow you to turn your spare change from everyday purchases into an investment opportunity.

Signing up for Acorns takes just minutes: All you have to do is link your cards and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio managed by experts at leading investment firms like Vanguard and BlackRock.

With Acorns, you can invest in a S&P 500 ETF with as little as $5 — and, if you sign up today and set up a recurring investment, Acorns will add a $20 bonus to help you begin your investment journey.

For those willing to accept market volatility, a $10,000 windfall could be an opportunity to put your money to work in the stock market.

Investing in strong companies with solid fundamentals could help your money grow over the years. Even a single smart investment decision can make a meaningful difference.

Of course, picking winning stocks is easier said than done. If you don't spend your days following earnings reports, economic data and industry trends, having a little guidance can go a long way.

That’s where platforms like Moby come in. Their team of former hedge fund analysts and experts spends hundreds of hours each week sifting through financial news and data to provide you with breaking stock recommendations.

Moby’s success speaks for itself. The platform’s stock picks have outperformed the S&P 500 index by about 11.9% over the past four years.

Even better, Moby offers a 30-day money-back guarantee so you can see if the service is right for you. And if you sign up for Moby Premium you get one free top-stock.

Finally, once Arya has all of the essentials covered, part of that $10,000 windfall could be used for something she may simply enjoy.

“If you have covered all of these answers, then maybe go on a nice vacation,” D’Andrea told Moneywise. While it may seem surprising for a financial expert to spend money on something frivolous, there’s nothing wrong with using a windfall to enjoy life a bit. That’s especially true if you are in good financial shape and tend to be pretty responsible with your money.

Arya may enjoy a cute little car to drive around in, or a personal trainer to get healthy and since she’s free of high-interest debt, ready for emergencies and planning to invest some of the cash, there’s nothing wrong with her using the money to treat herself to a splurge (within reason).

- With files from Christy Bieber.

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Empower (1); Carnegie Private Wealth (2); Federal Reserve Bank of St. Louis (3); LinkedIn (4); Pew Research Center (5); Creighton University (6); Dandarah Wealth Management (7); Fidelity (8); Bankrate (9); Acorns (10)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.