Why still poor after getting 100,000 prize

Have you ever winning a money prize worth 100,000 or more? I don’t have any experienced like that. But there’s many people have that experienced to win big buck from either contestant or lottery. As I’m not support gambler, so I will relate the topic with contest.

prize-money
There’s many contest worldwide that provide money as their main winner prize. As I’ve mentioned above I don’t have any experience to receive that huge amount of money but one of my officemate have that experienced. Not 100,000 but 50,000 in fishing contestant. What make me surprise is, he still working hard and always don’t have enough money. That’s the reason I want to share my opinion why there’s a people receive huge free money but still poor.

1. Not invest
– There’s many people that suddenly get huge money but don’t know to buy. They just buy goods and waste it on entertainmnet. It is wrong as the money is need to invest. For me, it you only receive 100,000 the best investment is either on stock , public mutual or any low risk investment. Don’t put all the money in same investment. Use at least 70% from the money prize to invest in this kind of investment type.
|Where Should I Invest |

2.Overspending
– There’s many winner that lose their money because of overspending and not control their budget. Yes, in that time many people become your friend and want you to paid for their lunch. After you short money, they will leave you. So, always know your limit to spend.

3. Not paying debt

debt
– If you have some of the debt that could settle using the prize money, than do it. It will help you to reduce burden in your shoulder. But don’t just paid all the money for debt.

4. Run from tax
– Some of country will calculate the tax of your money prize. Always pay attention about this because the government could sue you and it will cost huge money if you can’t paid it.


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5. Not donate

charity
– Maybe you think donate could reduce your money. Yes, it could reduce but the people you help will pray for you. It will help you in the future. Trust me..

6. Buying wasteful good
– Buying wasteful good such as sport car, branding clothes is common way to waste money. It happen to all the winner.

Okay, that’s all for today. Hopefully I could win the money prize in the future and could help to increase my income. Do you have any idea and opinion about the title? Let’s share with me.

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