So, let's say you just won a thousand bucks from 107 MUS the Moose and Planet Fitness in our 16K Workday Payday. You texted in one of those keywords we read off... one of 16 that we read every workday from 6am through 10pm (and usually it's between five minutes after and ten minutes after every hour)... and we called you back, you answered... and you won.
So... what are you going to spend your winnings on?
Paying off debt is probably where you should start. Dave Ramsey would agree... but what you spend it on is up to you. So ask yourself this:
What would make you happy?
Being debt free would probably make you happy, but perhaps those shoes/purse/handbag/jeans/top you saw online, ladies, would make you happy. Guys, maybe that drone/gaming system/running shoes/leather jacket you saw at 10% off for a limited time would make you happy (because you saved money, of course).
When it comes down to it, that's all just stuff.
The happiness generated from spending your money on things goes away pretty quickly.
You knew that already, didn't ya?
There's the catchphrase that's making the rounds lately...
Experience, not things.
... and for good reason, because there's science behind it. A study was conducted over a 20-year period by Cornell psychology professor David Gilovich, and details exactly why you should spend your money on experiences. It boils down to three pretty basic things. Forbes outlines the study -- check it out HERE.