Five things to NOT do after winning the lottery
What to do (or not do) with some winning moola...
Recently, an American woman won $1-million (roughly R19-million) in the lottery for the second time in 10 weeks! Talk about luck...
They say you should dream big and just like most South Africans, we are aiming for full pockets.
Ever imagined what it might be like to come into money? In this totally hypothetical situation, we bring you five tips on how to keep your cash-money-dollar safe.
Here are some secret tips for the day you ace the winning numbers:
1. Do not tell people
Do not even squeal to your family. Money changes people and many disputes happen over finances. Rather be safe than sorry.
2. Do not announce it across social media
Don't be a silly billy. In these sensitive situations, anonymity is best. You may not be able to tell the world but trust us, there will be signs.
3. Do not throw a huge party
Inviting large social groups and running yourself into debt before or as you receive some mega moola may lead to unnecessary drama.
4. Do not quit your day job
Winning the lottery can be life changing but it may not be your entire ticket to freedom. If you decide to make a big ticket purchase, buy something luxurious or pay off debt then you will still need a consistent way to sustain yourself. When in doubt, check in with a professional.
5. Do not buy luxury things that you can’t afford to maintain
Splurging on a fancy car, huge house or other luxury goods are all part of coming into money, however, it is important to take maintenance into consideration. Can you pay for the car service, petrol, house levy, tax etc? If not, you may need to second guess how you spend your money.
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