Most people have fantasized about winning the lottery. But what most people don’t realize is the aftermath of sudden fortune.

Most lottery winners end up bankrupt in just a few years of their cash windfall. Is there a curse on winning lottery tickets?

No, it all boils down to money management. If you’re expecting a sudden windfall of cash here are 5 critical money management tips to help you keep your fortune intact.

1. Calm Down

Yes, you heard that right. Calm down.

You just received a windfall of cash, but it doesn’t change the fabric of human existence. Too much emotion can mean overzealous behavior.

Don’t touch the money or make any further decisions until the excitement wears away. Euphoria has a way of tricking the brain into feelings of invincibility.

This is the fast track to ending up broke again in the blink of an eye. Do your happy dance, celebrate with friends over drinks, but do not make money decisions while under the influence of endorphins.

A Structured Settlement might be the ticket to helping you gradually enjoy your money without losing it.

2. Know Your Limitations

Rising up on the status ladder can give you an instant sense of security and confidence. In the parable ‘Acres of Diamonds,’ the merchant grows his fortune exponentially from a small investment.

He does this by knowing his limitations and only investing in the things he knows about. Avoid trying to launch new businesses where you have no experience.

Don’t offer money to family and friends who claim to have a viable money-making opportunity if they don’t have experience in the venture. Being conservative with your spending is about knowing your limitations.

Move forward with caution to avoid losing all your money.

3. Focus on Conservative Investments

Start investing in areas with proven returns. Aggressive investments are a great option once you’ve got a diverse retirement portfolio.

But at least 60 percent of your finances for retirement should be placed in conservative to moderate investments. Think total stock market index funds or ETFs.

These might not be the most glamorous investment vehicles for retirement, but they’ll beat the market in the long run with modest guaranteed returns.

4. Take a Chance

Money management isn’t about hiding your riches under a mattress in hopes it’ll one day have little money babies. Your money can’t grow when it’s stagnant.

If you’re a person who never takes risks, now is the time to take a chance. Feel safe in know that you could lose 20 percent of your cash windfall and it wouldn’t equal financial ruin.

The trick is not betting the ranch on a hunch just because it worked for someone else.

5. Play Hard to Get

It’s a good idea not to keep your money in an account that’s easy to access. If there are multiple steps between you and spending your cash windfall, it slows down your ability to spend.

This is a good money management technique if you’re prone to impulse buying.

Money Management Rules the World

Emotional spending is at the crux of all poor money mangement. A good system of financial management is the key to investors getting a good return on their dollar.

Put those same responsible vibes out into the universe as you enjoy your recent windfall of cash. For more information and tips, visit our blog for updates.