I was joking with a friend that if I won a million dollars, the first thing I would do would be to get rid of all the socks in the house and then buy all matching socks so I wouldn’t have to pair up random socks for all the people in my household. This is definitely one of the things I would do, along with other more life-changing things for myself, my family, and my community.

It is fun to think about what we would do if we came into money. For some, that is finding a stray five dollar bill in your winter coat from the previous year, a tax return, a work bonus, an inheritance, or a court settlement. As much fun as it is to daydream, it can be much more difficult when it actually happens.

Prosper Canada has put together a resource called Guiding Your Journey: A Toolkit for Lump Sum Payments. They curated it in preparation for the First Nations Child and Family Services and Jordan’s Principle Settlements. The tools can be used for preparing for any lump sum payment you are expecting or receiving. The tools in this resource are organized into four sections:

1. Financial Education
2. Tools and resources for lump sum payments
3. Tools for consumer protection
4. Research, reports, guides

Prosper Canada is a national non-profit organization that focuses in financial literacy. I use their resources and training in my daily work with people and am grateful for their expertise. Thank you, Prosper Canada, for this timely and helpful toolkit.

If you would like to talk about your finances, give me, Caroline, a call, text, or email.