So, you just came into some unexpected money—maybe a $17,000 inheritance from a grandparent. First off, that’s a big deal. Whether it was expected or a total surprise, a financial windfall like this can open doors… but only if you play it smart.
Someone on Reddit recently posted about getting an unexpected inheritance, unsure if they should put it toward buying a house, invest it, or just stash it away. And honestly? That’s a relatable question. So, let’s break down your options and how to handle this money without regrets.
1. Slow Down Before You Spend
Here’s the thing: getting an inheritance feels exciting—and maybe a little overwhelming. a certified financial planner at in a big investment firm, says one common mistake people make is rushing into decisions.
Instead? Park that money in a high-yield savings account while you think it over. This keeps your cash safe and even earns you a bit of interest while you map out your next move.
Pro tip: Talk it out. Chat with someone you trust to help you gain financial control or even a financial advisor. You don’t get windfalls every day—make it count.
2. Think About What the Money Means
How do you feel about this inheritance? Weird question, but important. advisors reflecting on your relationship with the person who left it to you. If your grandparent valued education, maybe you’d use it for school or to help a sibling pay tuition. If you shared a love for hiking a certain trail, maybe a memorial plaque or donation to a park in their name would honor that memory.
In short: make it personal. Your financial choices can reflect your values and theirs.
3. Strengthen Your Financial Foundation
Got debt? This could be your chance to wipe it out—especially high-interest credit card balances that are draining your paycheck each month.
Brian Pultman, founder of Correct Capital Wealth Management, says paying off bad debt should be at the top of your list. Why? Because that interest stacks up fast, eating into your financial future.
Daniel Masuda Lehrman, a Honolulu-based CFP, adds that your loved one likely wanted you to thrive, not just survive. So building financial security—whether it’s debt payoff or boosting your emergency fund—can be a great use of the money.
Aim to have at least 3 to 6 months’ worth of expenses tucked away in a high-yield emergency savings account. Because life happens—and when it does, you’ll be glad you planned ahead.
4. Set Yourself Up for the Long Haul
Want to really honor your grandparent’s gift? Invest in your future.
Putting some or all of your inheritance into a Roth IRA or your 401(k) could pay off big-time down the road. Compound interest is no joke—it’s like planting a money tree now and letting it grow into something huge later.
Even better? Every time you check that growing retirement account, you’ll have a little reminder of the legacy that helped you get there.
5. Don’t Be Afraid to Treat Yourself (Within Reason)
Not every dollar needs to be super serious. A splurge—a meaningful one—can actually be a powerful way to honor someone’s memory.
I can recall a client who used inheritance money to finally buy the classic car he’d always dreamed of. And you know what? It was a good call. It brought him joy—and that’s priceless.
When my own family got an inheritance, they took an Alaskan cruise together. It wasn’t just a trip—it was a memory maker. So if there’s something that brings value to your life (not just clutter), go ahead and say yes.
Final Thoughts: Don’t Let It Burn a Hole in Your Pocket
Reddit is full of people crowdsourcing answers for what to do with surprise cash. Some ideas are brilliant, some not so much. But one thing’s clear: there’s no one-size-fits-all strategy.
Your inheritance is personal. Your decisions should be too.
Take your time, reflect on your options, and don’t feel pressured to make a big move overnight. Whether you invest, save, pay off debt, or take that dream trip—make sure it aligns with your values, your goals, and the memory of the person who made it all possible.