Lottery Winners: Please think before splurging your money!

I have read so many stories both locally and overseas about lottery winners leaving themselves less than 5k of their currency even they won at least a million in lottery after a year.

First, i will envy them, if i can, i will congratulate them, because i never won such a big amount in lottery before, and my country does not allow such big winners anyway, if it does happens which is a very rare less than 1% chance, they usually pay in installments than to give them one big lump sum.

So, what one should not do when one wins a lottery?
- Do not broadcast, you will ended a queue of relatives to strangers queuing your house asking for donations, sponsorship, rentals and even fake debt collectors!

- Clear debts as much as possible. If your debts is more than 50% of your winnings, then, don't used up all. Plan your debt clearing. Look for a legitimate bank or a real financial planner, think of good ways to invest the winnings, use the winnings for clearing debt, how about that? You may even refer to my previous post on how to handle debts.

- Don't change your lifestyle. In short, don't think you will get the another such chance of the lifetime again being that few extra millions in your account does not mean you will keep it at the same amount forever. It is not your regular pay.




Jane
Night Desperato Project



Reference Articles:
(1) Britain's youngest lottery winner Callie Rogers has just £2k left - but she's happier than ever
(2) Scottish lottery couple split up just a year after scooping £2.1m jackpot
(3) Lottery Winner Who Spent His Fortune On Drugs, Now Works In Cookie Factory
(4) Twelve Things not to do if you win the lottery
(5) Lottery Winner Blew Through $10M in Fewer Than 10 Years
(6) How do lottery winners go from riches to rags?
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