Spend Wisely and Save For Tomorrow Start planning of how you are going to manage your money. Find out when and how you will receive the money, and check with your accountant to find out what the tax implications are. Once you know the final sum of money you are going to receive, you can begin to strategize a spending and investment plan to meet your needs. Pay off all your bills and make sure you clear your debts. Have a fixed spending plan, else you will see your money vanish in a few years. After taking care of your expenses, start thinking about investing.