Have you ever considered what you would do with a million pounds, if it arrived in your bank account overnight, even though you hadn’t really expected it? Betway posed such a question, and some variations, to some British citizens recently and the results were intriguing. You, however, probably still need to make up your mind.
Would you pay off your mortgage?
This is a great thing to do if you have the cash to do so. It would help you avoid so much interest and in the future you would have a lot more disposable income, which would otherwise have been spent on monthly or yearly instalments. If you are family man or woman, this would also afford your spouse less stress and probably make for a successful partnership. The stresses of life can sometimes get in the way of genuine love, so it’s really good when those are removed from the equation.
Would you buy a house?
Perhaps you are not already paying off a mortgage and, with a bit of your own capital added to your winnings, be able to buy a home outright. This would be a hefty undertaking and, indeed, a hefty achievement, but entirely worth it if you can make it happen. It’s so much better to own a house rather than to pay rent, which effectively builds somebody else’s dream for them. Rather build your own.
Would you go on a holiday?
We are not talking about a quick trip over the ocean to Spain for the weekend here. We are talking about an extended trip, perhaps to the next hemisphere, or at least to a country you have never visited before. Australia or even the United States can be lovely at any time of year, especially if you are not averse to any climate in particular. Obviously, if you prefer to the heat, then avoid that country’s winter. If you like the cold, well, it probably goes without saying that you should find some appropriately wintery conditions somewhere on the planet.
Would you start your own business?
You might have been thinking about this for a while, but lacked the final push to do so. A bit of extra cash could be that oomph you were needing. Rather than working for ‘the man’, doing that ‘nine to five’ thing, take the plunge and make up your own hours and employ your own workers. This can be massively empowering, but is going to need a lot of hard work.
Would you buy a new car?
It might be the right time to trade in old faithful for something a little bit more reliable. A car is not really a financial investment, even if it does stroke your ego. It loses value the minute it is driven off the showroom floor, and the same can be said for second-hand varieties bought from dealerships or via private sales. Either way, it’s an obvious need, especially for those who can’t use public transport as frequently as they would like to. It’s also a good enough asset in an emergency, for a quick trip here or an extended drive there.