Read how real Publishers Clearing House Winner Natalie B. used smart money management tips to keep her $1,000,000 win going for a long time!
It’s your Friendly Neighborhood Goodwill Ambassador, checking in on the PCH Blog! I know that many of you are looking forward to the next BIG Prize Event, $7,000 A Week For Life! Whenever a big prize is at stake, a lot of people start dreaming of what they would do with the money. I know I did prior to my win!
But what did I do AFTER I received my winnings? Well, some of the things were pretty obvious, like building our dream home. But how did we figure everything out? How did we make our $1,000,000 win last more than a few months? Here’s a little advice and some money management tips from me to you if YOU were to become our next SuperPrize winner!
1) See a professional. After we won in 2008, we put two members on Team Bostleman. An Accountant and a Financial Advisor. Dealing with a significant windfall at one time can be a bit daunting, but with their knowledge, we were able to set up a game plan.
2) Settle the debt. Financial freedom comes once the weight of debt is lifted. If you remember, I was working THREE jobs before the Prize Patrol visited me. I was stressed! Getting out from under that debt was a big sigh of relief.
3) Set aside a little ‘fun money’. OK, game plan in place and debt paid off. Make sure to take a small chunk aside to spend as you would like WITHOUT GUILT. In my case, I upgraded my video gaming platform, took a few small trips and went to my first Madonna concert.
4) Set a budget. Wait, does that make sense? Why would you set a budget AFTER winning money? Because you want the windfall to keep working for YOU. I was able to plot out my budget through a website. This handy tool tells me if I’m on track to hit my goals, such as saving for retirement and taking a big vacation for our 15th wedding anniversary. Yes, RETIREMENT! Through my budget, I was able to save up to put a large down payment down on my lil’ ‘Smokey’, AND I was able to save up to go on my very first trip over an ocean this coming Spring! I’ll tell you all about it in a future blog, so STAY TUNED!
Do you have your game plan in mind if the Prize Patrol were to come knocking on your door? Let us know in the comments below!
2008 SuperPrize Winner
PCH Goodwill Ambassador
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