Five ways to keep your winning prize money for the rest of your life

Feb. 26, 2012 - PRLog -- Becoming the lucky winner of the lottery grand prize is quite overwhelming and inspiring.  However, one needs to take a big breath and think carefully how to use all that money.  Many winners, who haven't carefully made plans and strategic decisions, have lost most of their prize money after several years. Responsibility and planning is the key to maintain your fortune and make it work for you.

1.   Make a plan how to use the money and where you want to be in five years time.  Think it thoroughly and seriously and then write it down in as much detail as possible.  Then break it further into actions through smaller time intervals.  This way there is a clearer path on what need to be done.  People who don't plan are more likely to feel overwhelmed and fail with their money management.

2.   Financial advisers from different institutes can provide good advice and guideline.  They can show you the different investment channels that will suit you depending on the goals you want to achieve.  This process will enable you to make wiser decisions how to invest your money to reach financial freedom.

3.   When winning the lottery grand prize, spend it slowly so you can appreciate that new money.  It can be arranged that the money will be given to you in instalments.  This is a safer way not to lose it all at once and it will help you have the time to plan and organize your future actions and make smarter decisions on how to use the money.

4.   Better to invest money in making memories by going places and seeing things.  It will lead to more happiness than purchasing material objects.  Once we buy something, we get used to having it around and it doesn't give us the same pleasure as it did in the beginning.  However, each time we remember our experiences and tell others about it, we experience the happy moments again.

5.   Giving money for a good cause makes people feel happier.  It is a great deed to give and help the ones who are less fortunate.  You can contribute to the community by donating to people or centres you support.  It will make you happy to know that you made an impact with your money in a personal way.

So you are financially richer but are you emotionally happier and richer?  Your decisions and actions should be directed toward obtaining inner happiness and self fulfilment.  You need to keep your family and close circle of friends to share your experiences and feelings with.  Also keep active by having a schedule and being involved with your work.   This will make you stronger and happier and emotionally richer.

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