There are many ways one can spend money. Everyone has different needs and desires, which is why we all choose to spend our money on different things. There are some purchases that are consistently popular choices amongst lottery winners throughout the years. Unfortunately, many of these splurges are on harmful vices, and unnecessary and extravagant luxuries. So many people fall into the trap of spending their lottery winnings on copious amounts cocaine, ridiculous cars, airplanes, helicopters, massively large mansions, as well as in strip clubs and on prostitutes. For some, hearing about all these things that people spend their lottery winnings on is exciting; after all, who doesn’t like a good time. However, spending one’s money on these things will make an individual run out of money a lot sooner than he’d thought possible.
In addition to the fact that spending on these things will make someone run out of money really quickly, there is a small piece of information that not all people keep in mind. Not everyone realizes that chasing after all the materialistic pleasures that this world has to offer will not make us feel satisfied or happy. Some people get it, which is why they give large portions of their winnings to charities or establish foundations to help others. Everyone has heard of terrible lottery winner stories, where winners seemed to have it all, only to end up a drunk, in prison, bankrupt, or even dead. Lottery horror stories happen all the time. One way to insure that one ends up being successful after winning is to be smart about investing in your future, as well as being sure to give lots of money to legitimate and worthy causes.
Take a look at a Mr. Adrian Bayford who won £148million on the Euromillion lottery. He spent his money on massive amounts of unnecessary luxuries and is paying the price. Literally. Adrian made the choice to spend £10,000 of his winnings on Lady Gaga Paraphernalia. He says he’ll be opening up a storefront from which he’ll be selling all the clothes, shoes and vinyl records that he’s collected recently. He is currently storing all of his Lady Gaga fan gear in his oversized mansion, which kind of gets you thinking… Is Adrian making an intelligent financial move with his newfound wealth, or, is he just a fully grown fan boy who can’t help but collect as much of his idol’s memorabilia as possible? Unfortunately, it seems his £6million mansion is simply not large enough to house all his new splurges alongside his wife, which is why the two of them split up a year after winning the lottery.
By contrast, take a look at how Canadian couple Allen and Violet Large decided to spend the 11.3 million dollars they won in the lottery. This inspiring couple made the incredible decision to give most of their winnings away to a variety of charities. That’s not to say they didn’t take anything for themselves, they made sure to set up each of their children and family members financially and then chose to give away all the rest of the money to hospitals, fire departments and religious organizations. It’s true that they didn’t get to go on a shopping spree, but at least they are still happy and together, not to mention all the good they’ve managed to do for their community. Do you want to invest in your future, give back to your community and buy yourself some goodies along the way? Choose your lucky ticket numbers today!