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Friday, September 10, 2010

What are you doing with your lotto winnings?


Congratulations!

You've just won the lotto jackpot.

Tomorrows 6/55 lotto jackpot prize is almost P145 million. With 51 draws no lucky bettor has claimed the jackpot prize. Imagine if the numbers will be called tomorrow and you have the lucky ticket , what will you do with this truckload of money.

You may feel that it’s going to be a very very huge relief to know that your going to be able to pay all your debts, your rent ,electric bill, phone bill, groceries, food and etc. . you will feel that It’s like a heavy weight lifted.
Before winning the jackpot you had bills at home you didn’t know how they were going to be paid.

Going from being broke one day to being a millionaire the next day is a huge change in your life ,but the only problem mostly because once you have money, the problem starts in Yourself.
The decisions you make. You want to buy everything even useless things just to impress people or just for show off.

A huge problem having a lot of money is the pressure to spend a lot of money very quickly. When you are rich, everybody wants your money, especially your family, friends ,cousins, neighbors, etc. all wanted to borrow money from you. And of course you would gave it to them. Then, you have girlfriends or your wife who want you to buy them lots of expensive presents like cars, jewelry and clothes because you are rich and they want to show off to their friends. asking for your money–and you end up giving it to them.

But possibly the worst of all because when it comes to money, it is the blind leading the blind. We all spend our money as if it will never run out. For example, for you to be cool and respected by the other people you have to keep up with them. So, if one person buys a new SUV, you want to buy one too. I mean, you can’t be rich, driving a normal car like a Honda Civic or just an ordinary Toyota. You have to drive an expensive Hummer, Cadillac Escapade, BMW, Mercedes, Porsche, etc.

You also have to have a huge expensive house. All the other rich do and if you just live in an average house, a townhouse or a 38 sq meter condo they look down at you. So, you have to spend a fortune buying huge house. And of course, the cellphones, laptops, I pods, the latest HDTV Etc..

We spend so much money on material things, it is insane. It is nothing for a lotto winner to spend P200,000 a month just for the gadgets. It is all extremely irresponsible. But, when you have your friends to impress and putting pressure on you every day to buy things, it becomes much easier to say yes than to say no, even as you are watching all of your money disappear.

A Lotto windfall changes all the parameters of how you live. It changes what you can do, what you no longer have to do, where you can live, how much you can travel. So much changes so fast that it can be terribly overwhelming, you may even feel what they call the .... money shock !!!

Anyway, one of this days you will be a lotto jackpot winner, I'm just giving you a glimpse of heaven on what a lotto winner usually does.
I will say it again, your decisions will make your money last for a long time or it will only take you 5 years or less to go back where you are now or worst.