What if you won the lottery…
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…What would you spend your money on? Winning a big amount of money can be both a blessing and a curse.
Some people continue their lives basically as it is with some improvements, like never having to worry about money, and others start to spend money like there's no tomorrow and end up in bankrupcy. Mansions, washing machines, cars, liquor and boob jobs is what british winners spend their winnings on.
What UK lottery winners spend money on
When people hit the big win it can be a big change in their lives, opening up opportunities to spend money on things they've only dreamed of. Most of lottery winners in the UK actually quit their jobs. Many start up their own business or work as volunteers instead. The most common thing that lottery winners spend their money on is property.
- Home: The majority by a new main home and increase the standards with hot-tubs. walk-in-closets, game rooms, electric gates as well as maintenance of their new home such as cleaner and gardener.
- Car: Winners also spend a lot of money on a new car, in UK the most common cars for lottery winners are Audis, Range Rovers, or BMWs
- Travel & Holiday: The third most common thing to spend money on is travel and holidays. If you quite your job, you sure have time to travel and money to spend to live at five star hotels all over the world.
These are the most usual thing to spend money on when you have the possibility, but what else do winners spend their money on?
Despite what you might think, the average overnight millionaires don't usually go and spend their money on luxurious things right away. According to a study, the first purchases for lottery winners are washing machines, a new sofa, iPad or a new handbag. Brits are a practical bunch going for everyday essentials instead of extravagance. Of course, there are some people who just love to throw their money around.
Other ways to spend a jackpot
Colin and Chris Weir, from Largs in Scotland, won £161 million on EuroMillions. They've started off to buy luxury cars to all their family and friends. They also bought a hillside property with pool, cinema and stables and donated their old home to their teenage mom neighbour. They also donated a five-figure sum to a young amputee to help with his healthcare expenses as well as supported the Scottish Independece Campaign with £1 million.
Michael Carroll won $15 million in a Brittish lottery in 2002. He decided to spend his money on demolition derby parties for his new cars. The point of the derby is to smash cars in to one antoher until their is only one car that is still running and is the winner of the derby, even if it's only smashed up parts left. Carroll didn't smash all his fortune on demolition derbys, but also spent a good amount of money on women and drugs which sent him to jail a couple of times.
As mentioned above, some of the winners invest in businesses or start up their own. Roger Griffiths, a 42-year old from Harrogate, decided to invest some of his £1.8 million into a beauty salon. Sandra Fosbroke from Carmarthenshire decided to invest some of her £13 million prize in the local pub.
British people do love their liquor, and Peter Lavery spent his £10.2 million prize on a Distillery in Ireland which makes 15-year old malt whiskey.
Callie Rogers won £1.9 million at the age of only 16. She spent her money on a £11.500 boob job, drugs and partying, ending up losing the custody of her kids she had with her ex-boyfriend. After losing all her money and moved in to a rented flat, she claims she is the happiest she's ever been.
Sarah Cockings, from Newcastle, won £3 million and also decided to spend her money on boobs. She treated herself and her two sisters to boob jobs costing £4,800 each.
Some more modest ways
Dave and Angela Dawes won £101 million in EuroMillions in october 2011. The spent the money a bit more modest on a small wedding ceremony with only five guests. However, they did treat themselves with a bottle of £250 Louis Roederer champagne to toast that they've tied the knot and spend their wedding night in a expensive bridal suite for £230 a night. Seems like it was a wise decision not to spend too much money on their wedding since they've split up only a couple years after the wedding. Apparently the fights over how to spend the money broke them apart.
Luke Pittard, a McDonalds employee won £1.3 million in his early twenties. He bought a new home and a fancy wedding, but kept his feet on the ground continuing flippin burgers at McDonalds even after his big jackpot.
The retired couple Allen and Violet Large donated all of their £7 million winning to charity. The causes they supported included a local fire department, cemeteries, churches, hospitals and Red Cross.
Lottery winners abroad
British lottery winners might be a bit practical spending money on new homes, fancy cars, everyday essentials as well as making not-so-wise decisions like spending fortunes on demolition parties, boob jobs and investing in local pubs.
Lottery winners across the Atlantic have also spent fortunes on more or less valuable ideas. Jay Vargas, an average teenager who liked wrestling and hot girls, won $8 million at the age of 18. He decieded to invest his money in starting up the TV-show “Wrestilicous” to combine his two passions. The show was closed after only one season. He also spent a fair amount of money on partying. Vargas himself looks at it as valuable experience.
Gloria MacKenzie, who won the largest jackpot ever won by a single person spent $2 million to fix the roof at her old High School, where her daughter works and she as well as all her kids attented school. She changed her duplex house to a Seaside Mansion in Florida and split the money with her son who was with her the time she bought the winning ticket.