A lot of people enter the PCH sweepstakes. If you do you have a chance to win. It is best to have a plan ahead of time. Then you will know what you should do and won’t be as overwhelmed especially if you have a lot of people asking for your money.
1. Figure out taxes. When you win a cash price you need to be aware of taxes and where your money is going to go. You won’t be able to take home everything that you won. Knowing this ahead of time will help.
2. Decide where your money is going to go after you win. Figure out what you want to buy and who you want to give money to. Don’t respond to people who come to see you that you have not heard from for a while. They probably just want money.
3. Invest. Make sure you are investing some of your money. You don’t want to win this price only to become broke down the road. You need a backup plan and you want to invest in your future. This is the best time to work on building up your wealth.
4. Buy something nice. Make sure to buy something nice for yourself that you couldn’t otherwise afford. You don’t want to spend all of your money on it but it would be nice to reward yourself. Enjoy your new toy and have fun with it.
5. Remember to stay humble. You don’t want to change who you are just because you won some money. Try to remember what it was like before you won and let your family know you want to stay who you are. If you find yourself feeling selfish, try to take a step back so you can get back to being the person you once were.
It can be difficult to know how to act when your financial situation changes. A lot of people have trouble with it. Having a plan ahead of time will help you know how to act if you do win the prize. You will have an idea of what you want to do with your money and what you can expect after that happens. It is always good to be prepared for any situation that might come your way.
Publishers Clearing House – But one thing I think We all want to get done right away are those build up Bills! Those that we have to pay every month, those with high rate interest like rent bills, mortgage bills, loan payment bills, student loan bills, credit cards with high interest and the list goes on and on! STOP! Working to pay to pay to pay are bills…
When it comes to make the right decisions or choices on financial situation, we’re sometime lost in what we should do or pay first. Is it the right thing to do? What should I do with my money? This is the time when you need the advice of a professional. Despite what you might read elsewhere about managing your own finances, it is often a good idea to get some help. While some may call themselves a “financial advisor”, others may be a “financial planner”, “investment advisor” or “financial consultant”, to name just a few. The Financial Planner will help you understand your financial goals and needs, so you can take the right decisions. Good Luck!