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| Money Matters Personal finance, managing debt, saving and investing |
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05-14-2008, 03:53 PM
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#1
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What if you won the lottery?
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Shakin My Money Maker Mod
Last Online: Yesterday 02:28 PM
Join Date: Oct 2007
Location: IDAHO
Real Name: Brandi Lee
Posts: 2,402
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This is kind of a spin off of my other thread “counting on money that isn’t there yet” but, this one has some personal attachment.
DH and I play the lottery. Scratchers, that is. Well for Mother’s day he took me out to eat, and he bought us both a scratcher to do while we sat and waited for our food. (not a fancy restaurant  ) anyways, they are both the same type, we scratched them and they were losers. BUT if you play lottery you know you ALWAYS get the tickets scanned. We went to scan the tickets and the lil machine kicked out a receipt that sound amount to great to pay, please contact Idaho Lottery. I about died! So, I’ve been hownding Dh to call since Monday. So I’ve had 3 days to “Imagine” what it would be like to win $26,000. Can you imagine! Off of a $3 ticket? WOW! Well DH finally gets a hold of the Idaho lottery today and the reason it says that is because (this is what they say, not sure I believe it entirely) AT THE VERY SAME TIME we went to scan our tickets a girl 45 miles away was scanning her ticket worth $26,000 and it jammed the system. BOOOO!!! They said they had to reset the tickets (?) and that they will scan now. We haven’t went and rescanned them yet. But ugg, can you imagine that much money!!
So my long drawn out question is, What you do if you won the lottery?
__________________
My choices yesterday create my today. My choices today create my tomorrow.
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05-14-2008, 04:08 PM
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#2
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Book Worm Mod
Last Online: Yesterday 09:42 PM
Join Date: Jul 2007
Location: Nebraska
Real Name: Wendy
Posts: 5,484
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I would buy a house in the country and have lots of babies. Those are the two things in my life I wish I could do right now!
__________________
Wendy~Self-proclaimed hippie momma to Bob and Jamie
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05-14-2008, 05:15 PM
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#3
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Senior Mommysavers Member
Last Online: 05-24-2008 02:02 PM
Join Date: Jun 2007
Location: New Hampshire
Posts: 403
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Every once in awhile we fantasize about it, but we don't play the lottery. Kind of stupid to fantasize then, huh?
I have heard the horror stories of people who do win. It seems to wreck marriages.
I guess I would spend some to finish out our home nicely, window coverings and maybe some landscaping.
Shore up the retirement fund better. That is boring, but I couldn't enjoy anything else if that didn't get done.
Visit my in-laws.
Have a long talk with hubby about who needs help and how we could do it best.
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05-14-2008, 07:33 PM
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#4
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Mommysavers Goddess + Approved Trader
Last Online: Yesterday 07:31 PM
Join Date: Jul 2006
Location: Northern VA
Posts: 3,527
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Well you have to play to win and i don't play LOL so I never think about it. My dad wastes his money every week (for at least 20 some odd years) on lottery tickets. He wins a few dollars here and there but nothing big. Personally, I'm too much of a realist-he could have been putting that money in a savings account (he spends $5-10 a week) all these years and had a nice balance by now. JMO
__________________
I am only one, but I am one. I can not do everything, but I can do something. I must not fail to do the something that I can do. -Edward Hale
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05-14-2008, 07:45 PM
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#5
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CHOO CHOO Train Mod
Last Online: Today 12:27 AM
Join Date: Feb 2008
Location: Hamilton, Ohio
Real Name: Christina
Posts: 2,075
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knowing my luck I would fall over dead of a heart attack or something & never get to enjoy the money! BUT... at least my family would be taken care of!
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05-14-2008, 08:23 PM
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#6
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Senior Mommysavers Member
Last Online: Yesterday 11:54 AM
Join Date: Mar 2007
Location: Northern Michigan.
Posts: 488
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I think it is fun to dream about it!
I know just the house on the lake that I would buy!
Marlene
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05-15-2008, 12:51 AM
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#7
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Newbie
Last Online: 06-03-2008 07:39 PM
Join Date: May 2008
Posts: 5
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i would save half of my money for emergency uses. . the other half would be for my family needs and wants. i would also invest some part of it. . 
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05-15-2008, 07:48 AM
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#8
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Mommysavers Goddess
Last Online: 09-05-2008 10:49 AM
Join Date: Jul 2006
Location: Michigan
Posts: 2,783
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I don't agree with gambling, so I never play. But I do enter the PCH sweepstakes at least once a month. I have only ever ordered a magazine once from them, all the other times I just enter for free. I would have bought the magazine anyway.
So, I would tithe buy a house, and some great homeschooling materials. New fuel effient cars too. Invest I guess. Hubby would quit his job and focus on helping abused children, and go on all the mission trips to Mexico. I would keep my little job at church. Besides getting a few tiny luxeries like clothes that fit well, and a small vacation each year. I really can't think of much else.
__________________
"It is no use walking anywhere to preach unless our walking is our preaching."
-- St. Francis of Assisi
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05-15-2008, 08:00 AM
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#9
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Money & Simple Living Mod
Join Date: Dec 2006
Posts: 4,381
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If I won $26,000, I would buy a car today. It's next on the list of things we're saving up for.
If I won, $260,000 I'd pay off the mortgage and max out our retirement and kid's education funds, after I bought the car.
If I won, $2,600,000, I'd buy the car, pay off the mortgage, max out retirement and kid's funds and put the rest in an income fund to pay myself until I'm 100. 
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05-15-2008, 08:12 AM
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#10
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Mommysavers Goddess
Last Online: Today 12:22 AM
Join Date: Aug 2007
Location: Mid-Michigan
Real Name: Jen
Posts: 1,399
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A guy I work with won $100,000 on the raffle ticket things they do here in MI (and probably other states). I saw when he won, it was pretty funny. He's a pretty good sized guy, and I thought he was going to go down - they were checking the numbers at work at the end of the day, and his came out. He started hyperventilating and everything.
I think he ended up putting half in savings, then used the other half to get some "wants" - a new Wii was one, and to work on his house. He had a lot of things he was trying to work on in the house, and he used that money to ramp up production. He already was pretty comfortable in living, car paid off, had purchased the house with 20% down, no other debt, living within his means, so he continued to spend the extra wisely. He didn't change either, still was the very nice, shy, and good guy to work with. He didn't talk about it much either. I still won't forgot how he looked though when he found out!
I'd have to play to win. I don't even remember the last time I bought a scratch off ticket - years ago. Every now and then I'll get a $1 Big Game ticket, probably once every few years.
If I did manage somehow to fall into a large chunk of money, I'd pay off the vehicles and house, and then use it toward working on our house. I can't think of anything crazy or extravagant to use it on. I'd also save for college for the baby, and our retirement.
__________________
"I know what I have to do now. I gotta keep breathing. Because tomorrow the sun will rise. Who knows what the tide could bring?"

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