Ideas For Spending Your Money If You Win The Lottery

Photo credit: Craig Adderly

We all dream of winning the lottery. In our dreams, we think of some crazy things like traveling the world in a hot-air balloon or moving our family to an island and living our lives like a modern-day Swiss Family Robinson. But the reality is a bit different. In reality, money buys more comfortable travel, children need a good education in a safe home, more than they need a fast ostrich, and the choices we make today will affect every choice we will ever make again.

If you have ever read an article about winning the lottery, you know that you will have to decide how to accept your payment. You know it is wise to speak to financial experts and consider savings and investing options. You know as a parent it would be almost a sin not to put your children’s college funds into accounts for them to access when they are ready to go to university. We are not going to tell you any of this. Instead, we are going to give you basic life-tips. These are ideas for when you win the lottery. Ideas for everyday living. So, let’s get started. 

Photo credit: dailymail.co.uk

Buy the right home to raise your children

Now that money is not a problem, what kind of house is not an issue. You can easily invest in any type of house you enjoy. Your home can be luxurious. The main factor to consider when buying your house is the location of the property. If you are purchasing a house, hire a professional. Explain where you want to live for the reasons we are about to discuss. Then have them find the best property near that location. The property must be in an area that is in high demand and is growing. You will pay a premium price for the property, but when you are ready to sell, you will demand a premium price. Land increases in value so that will almost always guarantee a profit as long as the property was well-kept. 

 

When you decorate the home, buy high-quality furnishings. Unless you are 100% sure this will be your forever home, try not to personalize the house too much. You may think having a pool in the shape of your initial is awesome, but it limits who will be interested in purchasing the house in the future. Unless they have the same initial, they will immediately need to invest in the removal of the pool or change the design. The same holds true with having your kid’s rooms designed. It might be tempting to make your child’s room look like the inside of a Star Wars control room, or a Barbie Dream House when they are 10. But they will be tired of it at 14 and it will be expensive to remove. If you try to sell the house, a millionaire with no children will not see that as a chic guest room. Just buy the bedroom set like everyone else and splurge on some cool furniture and a Playstation 5.

 

Best Place To Live

Research says the best place for young families (who can afford it) to live right now is West London. West London is a beautiful area filled with historic sites, lovely parks, and miles of green areas. There is plenty for kids to do and no limit to places for them to get outdoors and play and stay healthy. You will often spot deer in the parks, picnickers, and cyclers among others out for fun. 

Schools

West London has 28 state schools that carry a rating of outstanding and 26 more that are rated good. This is besides the numerous top private schools in the area that cater to the families of the upper-class and those seeking supreme education for their children. Spending your money on the best education you can get for your children is an investment in their future.

Crime

The crime rate in North London is the lowest in all of London. 

Photo credit: Christina Morillo

Growing Your Business

You may want to open your own business or expand a business you already own with your lottery winnings. You will find London is the perfect place to begin that dream. London is a melting pot of peoples, cultures, and ideas. It is one of the top cities in the world for business. You are able to tap into the knowledge of the people that travel there from around the globe and you are able to take advantage of a highly versatile and skilled workforce. 

The UK government supports business in many ways. Those who need financial assistance find it easy to get financial support to open a small business or to grow their enterprise. There are also tax breaks for new companies to help get new businesses off the ground. 

Travel

You may need to travel for your business or you may want to spend your winnings seeing the world. Either way, you are perfectly located to travel. London has 6 international airports, 10 major ground hubs, and an extensive underground rail system. You are positioned halfway between Asia and the Americas. You could not be in a better position or have more options for travel from anywhere in the world.

As you can see, everything you need and want is available to you. You have the money to make these wise choices and do everything you want to do. Spending wildly will not allow you to reach your goals. But careful spending will grow your money and provide more than you can even imagine. That is what money is supposed to do. 

Follow me on social media for more!

Get more stuff like this

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Leave a Reply

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.