For Haley and Justin Brown-Woods, a $600,000 inheritance felt like a dream come true—until it became the source of anxiety, arguments, and unexpected debt. Their journey from sudden wealth to hard-earned financial wisdom reveals a simple but powerful lesson about managing money, no matter the amount.
The Brown-Woods, both 24 at the time of their windfall, came from backgrounds where money was always tight. Justin grew up in the Bay Area, raised by a single mom who worked long hours to make ends meet. Haley’s childhood was equally challenging, moving frequently across the Pacific Northwest with her mom, always searching for financial stability.
So when the lawsuit settlement arrived in 2016, the couple had never seen that much money before—and they had no plan for what to do with it. The initial excitement translated quickly into major purchases: a house, a car, their wedding, and more frequent dinners out. Life felt easier and more joyful. But lurking underneath were warning signs—student loans, credit card debt, and eventually, a $17,500 timeshare loan picked up on their honeymoon.
The breaking point came in 2019, sparked by something as small as a $7 package of muffins. A heated argument revealed the bigger issue: in less than four years, their inheritance was gone, and over $200,000 in new debt had appeared. Even more alarming, more than $150,000 had simply vanished into untracked, everyday expenses.
Determined to regain control, Haley and Justin started budgeting—carefully documenting every expense and looking for areas to cut back. They created a debt payoff plan and began meeting monthly to review their progress. Their debts have since been cut in half, and they’ve started saving for retirement. Now, they even share their journey and advice with others through their podcast, Price of Avocado Toast.
The Brown-Woods’ experience is more common than it seems. According to a 2024 survey by Citizens Financial Group, nearly a third of Americans expect to receive an inheritance in the next five years, but 72 percent say they don’t feel confident managing it alone.
While hiring a financial planner can help, the foundation is far simpler: track your spending. Budgeting might seem dull, but it’s the one habit that puts you in control, whether you use pen and paper, a spreadsheet, or a money-tracking app. What matters most is turning those numbers into action—checking in regularly, adjusting when needed, and learning from mistakes instead of repeating them.
In the end, wealth is about more than the size of your bank account. It’s about how you manage what you have—whether that’s hundreds, thousands, or millions. And yes, even when it comes down to a $7 muffin.
