It's easy to get carried away with bonus money, lottery winnings or an inheritance. "Adrenaline kicks in, you feel like the money is endless, and you don't think to actually cover your bases first," says Farnoosh Torabi, author of "Psych Yourself Rich." "That's why we see a lot of lottery winners and professional athletes going broke."
What's her advice? "Address your needs first and then your wants," says Torabi. "It's not about accumulation, it's about allocation, whether you're making $8 million or $80,000." The urge to treat yourself is human nature and it's fine to do so, she says, as long as you're also paying your bills.