8 things to do if you have won the lottery

1. DO NOTHING FOR A WHILE:

                Yes, you heard that right. It might be unusual for some, but, the high feeling that you get when you hear the news is enough to give you the craziest of ideas to waste that money. Instead, keep calm and react as if nothing has happened and most importantly don’t publicise yourself in the media or with your outer circle of people.

2. SETTLE YOUR DEBTS:

                An important and common one to note, you don’t want to be a guy with the tensions of your pending debts in mind if you want to be rich in the long run. Pay your debts, settle any loans that are yet to be paid for your car or your house and don’t stack them till the end, as it may cause serious problems.

3. PRIORITISE YOUR NEEDS:

                Winning a lottery doesn’t mean that you should spend the money and waste it in an extravagant way, but spending on the things that you prefer are the most necessary. If you don’t have an own house, an own car, or if your daughter is struggling to pay her fees in the university, give priority to the most important things in your life.

4. ENJOY, BUT RESPONSIBLY:

                So does this mean that, you shouldn’t party in the weekend, or plan a trip to your favourite destination abroad? No way. But the line should be drawn, in such a way that, you don’t end up broke after having fun or when the party is over. Responsibility is the key, and if you let this rule go loose, you will end up losing all your money.

5. GET AUTHENTIC FINANCIAL ADVICE:

                This doesn’t mean that you should listen to your uncle’s amateur advice, but contact a legal financial advisor, get help from a lawyer, as these people have experience in dealing the cases of people who handle large sums of money, and to avoid getting bankrupt.

6. INVEST TO MULTIPLY:

 A lottery is not infinite even if you win a trillion dollars. Learn to invest in small shares and save, as the money you invest today has the ability to multiply in the years to come. Gold even though is a conventional option, is a godd way to invest as well. A separate bank account to have your money is favorable as there is less pressure of maintaining a large sum of money in the day today expenses.

7. THINK TWICE BEFORE LENDING MONEY:

                This is where people lose and struggle the most. The news that you hit the jackpot won’t remain a secret and probably the entire neighborhood will know you won. Uninvited guests will come to your doorstep asking for help and this is where you need to be careful and examine the other person whether he is trustworthy or not.

8. MOVE AWAY IF POSSIBLE:

                However kind you may be, the people surrounding you will not let to pursue in your own way, and there will be constant nagging for money, sudden claims by your brothers, sisters, wife or husband. If you are a person who cannot handle these tense situations, it is not unjust to move to a place of solitude so that you can work on yourself.