Forget a Kitchen-Aid mixer. Snoop Dogg surprised his daughter, Cori Broadus, with a $1 million gift ahead of her upcoming wedding, the rapper said during a recent appearance on "The Jennifer Hudson Show."

Snoop Dogg explained how he would take advantage of the gift if the roles were reversed. "If it was me, my wedding would have been $100 [thousand], and $900 [thousand] would have went in my pocket," he said.

Although a seven-figure wedding gift isn't in the cards for most of us, Snoop Dogg's suggestion for handling a financial windfall — spending 10% on fun and saving 90% for the future — checks out, financial experts say. 

"Snoop Dogg's comment highlights the importance of prioritizing long-term financial stability over immediate gratification, which is solid advice," says Maria Castillo Dominguez, a certified financial planner and founder of Valoria Wealth Management. 

That goes for anyone who comes into any unexpected sum of money, she says, no matter the size of the windfall. 

Pause, then consider your options

If you receive money unexpectedly, it can be tempting to envision yourself spending on a whole new lifestyle. In reality, you'd be better off putting money toward your long established goals, experts say.

So before you do anything with your money, experts advise that you first give yourself a moment.

"Take a pause before making any decisions," says Catherine Valega, a CFP and founder of Green Bee Advisory. "Don't do anything rash," such as buying your "long-lost cousin a new car when they come out of the woodwork to ask for it," if word gets around that you've come into extra cash.

Once you've composed yourself, Dominguez suggests asking yourself a simple question: What have I been wanting to do if I had more money? For many, it's buying a home, paying off your mortgage, starting an emergency fund or getting out of credit card debt. 

By carefully thinking through your next steps, you can make the most of your extra money.

"Setting clear goals and even consulting a financial planner can help ensure the windfall works for you over the long term," says Dominguez. With the right guidance, a windfall can be an opportunity to generate even more money for yourself and build happiness that lasts. 

A financial planner can take your specific situation and design an individualized plan for your extra cash. 

"Everybody should work with a financial planner," says Valega. "We know how to prioritize your extra funds."

Celebrate responsibly

Whether it's in the form of a tax refund, a holiday bonus or an unexpected lottery jackpot, a windfall can provide a huge boost to our bottom line when we least expect it. And the ability to use that money to make a better life for yourself is cause for celebration, says Dominguez.

After you've identified your goals, using a portion of your extra money to treat yourself is within reason. Having a plan for your money can help make sure you keep your celebratory spending reasonable, she says. After all, treating yourself shouldn't infringe on the success of your long-term plans. 

"It's important to strike a balance," Dominguez says. "Celebrating life's milestones is valuable, but aligning spending with overall financial goals ensures sustainability."

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