We all fantasise about it – winning the lottery, or maybe winning one of those huge progressive jackpots on a slot machine or through an online casino games. What would we do with the money?
How could we use it wisely while still bringing ourselves the most happiness? Below are some ideas from someone who has spent plenty of time pondering this fantasy for how to best spend a big jackpot win.
1. Donate it
There have been numerous documented scientific studies that show the happiness that comes associated with giving money to causes about things you are passionate about or people in need. To be quite candid, it can sometimes be very difficult to give money away when you may feel like you are in need yourself, but studies show that the act of giving to those who have less contribute to individual happiness and feelings of self-worth.
2. Pay off debts
This idea isn’t something that sounds very fun, but in the long run, not only will it boost your happiness and decrease stress, it will also set you up for a lifetime of financial well-being. It may feel tempting to simply continue with your monthly minimum payments, but knowing that you don’t owe any money to anyone brings a feeling of security and comfort that will help to improve your outlook on all aspects of life. Plus, the income that you have coming in that used to go to debt can be used towards many other things monthly.
3. Enjoy it
For goodness sake, you have dreamed about this moment for years! What is it that you have always wanted? Travel to an exotic destination? Buy that designer outfit? Drive around in a fancy sports car? Whatever it is, the win will have no satisfying effect on you unless you use some of that money to treat yourself to something completely frivolous or something you otherwise may have never purchased for yourself. Go ahead – you deserve it!
You hear about these big money wins so frequently – everyday people whose lives are changed by the sudden blessing of a big win. I’m here to tell you – keep dreaming; there’s no reason you can’t be the next lucky winner.