When it comes to making money with any lottery system, it’s important to look at a few things in regards to financial freedom. Sure, it’s nice to get six figures or more, but what to do with the money once it’s in your hands is something that is worth discussing, especially since winners are made daily. Every day people make serious financial moves as a result of playing scratchers, picking numbers, or other options. Now, before we continue, it’s important to remind everyone that a winner of these systems is not promised triple digit millions like that of the Mega Millions system. Some people can make anywhere from $10,000 to $1 million and much more from an investment as little as $1. That’s right, with a mere $1, people have been known to walk away with tens of thousands and even millions. Those numbers are nothing to scoff at, even if they aren’t what you might have envisioned when you think of the lottery. Before we move forward, it’s important to understand that there are many ways to spend money, but the following ways can help you manage it a little better than just making it rain at the local club.
Save It – The first tip that many people just don’t really get is, save. Saving money is not a bad thing, although some feel it’s dangerous when putting money in a bank account. If you’re not going to put money into a FDIC bank account, then at least consider buying mutual funds, stocks, or even gold bullion. Look into saving it, however, in any way you can so that you not only have money for a rainy day, you’re not tempted to spend.
Pay Bills – The second tip you can use is to make sure that you’re winnings is utilized in a good manner is to pay bills. Whether you have a mortgage, student loans, or you simply have credit card debt; move forward with paying off your bills. A clear slate can not only make the financial freedom feel so much better, it can allow yourself to really spread out and relax.
Charity – If you want to do something else, you can easily pay and help others in need. There are hundreds of charities out there that are deserving and can allow you to spend without feeling bad about throwing money around. Helping others can be an anonymous act or you could place your money into a trip where you join others to help people on a one on one basis.
The above 3 ways to utilize your new-found glory is not something that should be taken without thought. Take into consideration the above, but don’t believe it to be the only way to utilize the money won. Just take it as a few helpful ideas to move forward.