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For many people – perhaps the majority of people – one of the fundamental practical questions of day-to-day life is “how can I make more money?”

For a lucky few, however, that question largely resolves itself as a result of hard work paying off in a big way, or a lucky windfall that can be attributed to the benevolent hand of Providence.

Perhaps you’ve been working to develop your business for years, and it’s now profitable in a way that you could scarcely have imagined in the past. Or, perhaps you’ve been playing the lottery regularly for as long as you can remember, and have actually beaten the odds and won it.

Of course, the natural human inclination is to start living large once a fortune has been established. But considering how many wealthy celebrities and public figures nonetheless manage to find themselves bankrupt in a few years, it’s a good idea to be mindful of your spending before you indulge in big spending.

Here are some things to keep in mind.

Itemise the costs of your luxury indulgences in advance

So you want to fly your family in a private jet to some great adventure vacation in one of the world’s most dynamic spa hotspots? Or maybe you’d like to reward your employees by flying them out to your next overseas conference in style?

That can be a great idea. Private jets are associated with luxury for good reason. But how much does it cost to charter a private jet?

If you find yourself comfortably well-off, in financial terms, the temptation may arise to spend first and ask questions later. But, almost regardless of how much money you have put aside, that’s a bad strategy.

In order to safeguard your wealth, and ensure that you can really settle into the pleasurable experiences that you’ve got lined up, you should itemise the cost of your luxury indulgences in advance. Know how much everything costs, and work it into your plan mindfully and intentionally.

Establish a meticulous budget – being careful with money got you money, and it’ll keep you from squandering it

Carrying on from the last point, maintaining a meticulous budget is not only as important when you’re well-off as when you’re working your way up, it’s arguably even more important.

In the majority of cases, being careful with money is likely to be what got you your money in the first place. So, it’s important to carry the lesson forward, and ensure that you have an effective plan for how to use your finances, and always maintain a high level of awareness about what you’re doing with your material resources.

This will largely protect you from that strange phenomenon, wherein a majority of lottery winners apparently find themselves bankrupt only a few short years after their win.

Of course, you should have an accountant, but you should also consider using conventional budgeting tools such as You Need A Budget, or QuickBooks, in order to stay on top of things. These tools are, among other things, very effective for giving you a quick day-to-day overview.

Always be mindful of ways to make your money work for you – look for good investment opportunities

One of the first rules of holding onto your wealth is to make it work for you, rather than just keeping it sitting around, waiting to be spent.

To those who have a significant amount saved away, there are a virtually limitless number of investment opportunities available. Of course, you could invest in stocks – as long as you take expert advice on it, and don’t take unnecessary risks.

But you could also follow the time-honoured tradition of investing in property, maybe even establishing yourself as a landlord to a large number of tenants, in which case you’ll be able to benefit from a continual income in the form of rent.

You can also, of course, invest in businesses that you see the potential in, as an angel investor, or you could start up your own business chains in the hope of becoming a Renaissance man or woman, with regards to your professional interests.

Whichever investment path you choose to pursue, you should always regard investment as one of your fundamental duties.