After buying a lottery ticket as a blogger for months, the ship has now arrived as you won the lottery and have received 1$ million. Your initial response is denial, and your next is sheer bliss. You’re testing your numbers once, twice, and three times, and yeah, your victory is true, and you’re lifting a glass to toast.
With decent money, your blogger self can live a beautiful life for many years to come. However from the minute you demand the money, you’re going to be taken down by locusts who just want the substantial support of that prize money. But if you haven’t had good spending habits before now you might soon transform to be your own biggest foe by rapidly wasting your wealth.
Studies suggest that most lotto winners are probable to wind up shattered and miserable when they don’t handle their cards correctly. To avoid being a poor-to-rich to-poor figure, take these tips on responsible purchases and making the most of the £1 million lottery jackpot without wasting it.
First, we’ll have a look at the responsible ones:
Clear your loans
Most bloggers begin their blogging journey with the thought in mind to manage finances along with empowering their followers with a fashion choice. Practice smarter financial planning and pay off your loans (if you have any on your shoulder) until you embark on the lottery-winning buying run. You have simply earned a chance to start fresh, to do so; you will have to clean the past state of what you owed to others.
Get your insurance
If your lottery win doesn’t remain a secret, you will be pursued by unauthorized people or organizations that will threaten you with an intention or purpose to grab a few pieces from your extra wealth.
This is why it’s always a smart idea to employ an insurance consultant, or even a smart lawyer (for fair utilization). The idea is to consider every action possible to secure your properties from malicious claims or business associates from attempting to assist themselves with your lottery money.
Don’t Quit Blogging
Blogging is a tiresome yet trendy job. The dilemma of whether or not to stop blogging after winning a £1 Million lottery jackpot is real, depending on specific needs. For instance, if you dislike blogging and have been doing it for a time being, quitting it is justifiable. Who wants the tension, after all?
Or if you’ve earned quite enough cash in the lottery, that is, millions of dollars, doing something you don’t adore doing, being oblivious to or keeping you apart from loved ones for five to ten hours a day has no sense when you’ve gained a bunch of money on hand.
The argument is that choosing to abandon your blog after hitting the lottery is special to your situation.
This is why it’s very essential to partner with a great money planner to build a long-term investment strategy that will protect your newly-received financial resources for years and years to come. Getting the strategies in mind provides the flexibility to balance the advantages and disadvantages out of revenue.
Make a budget
While you’ve won cash inflow, it’s still necessary to build a framework and adhere to a budget. The trick to remaining wealthy is managing what you invest and taking care of your expenditure, as many rich individuals can advise you. Evaluate what can be invested on a weekly budget, how much can be invested. Customizing and managing a budget is the best approach to thrive while your money lasts much longer.
Don’t go overboard
Yeah, you’ve got a huge amount of money in your savings account. So it’s enticing to spend it, particularly if you’re concerned that somebody could steal the money from you through litigation, bribery, or bad financial planning choices that contribute to your jackpot getting out of your hands.
Don’t hold this view. If you have implemented the cash management tips described earlier, your wealth will be secured and segregated from scammers and robbers. With this guarantee, further secure your wealth by sticking to tried-and-tested financial fundamentals, such as sticking to a budget, making wise and safe purchases, and getting a strong financial strategy in the long-term intended to keep you rich not only for now but for many years to come.
Now that we’ve had a view of all the responsibility a blogger must do after winning a lottery, let’s move forward to some of the ways you can treat yourself.
Load your bags and travel to your favorite destinations
For the last couple of weeks, you’ve got a lot going on including hitting the lottery, smoothing out your life, and avoiding all the greedy bastards while maybe quitting your long-term or short-term blogging journey, but now it’s a great time to slow down. Choose the one destination you’ve desired to visit and explore, turn your mobile off, get on a plane, and chill out.
Head to shop and reward yourself
Since you have a huge amount of money now, it’s quick to shop now. Reward yourself with a couple of items, be it the hot seller ones or the ones which were always on your hit list, but continue to quench the need to buy things within your means.