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X-ORIGINAL-URL:https://dadsinbusiness.co.uk/
X-WR-CALNAME:Dads in Business
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UID:MEC-1e48c4420b7073bc11916c6c1de226bb@dadsinbusiness.co.uk
DTSTART:20231009T000000Z
DTEND:20231010T000000Z
DTSTAMP:20230816T190800Z
RRULE:FREQ=YEARLY
CREATED:20230816
LAST-MODIFIED:20231006
PRIORITY:5
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SUMMARY:If you were given £100,000 tomorrow, what would you do with it?
DESCRIPTION:Would you have a plan?\nWrite down your plan.\n70% of lottery winners go broke.\nWhy is that?!\nIt’s interesting isn’t it that when the majority of lottery winners get their fortune,\nthey find themselves skint again or worse, bankrupt within a few years. I often\nfind this a curious thing but I guess with no relationship to money or define\ngoals or vision of what to they want to progress in to, perhaps the easiest\nthing to do is to spend your way back to the life you had before? I’m not sure\nof the science behind it, but for me it cries out about the need for creating\n‘buckets’ to allocate cash to.\nThe obvious answers to this questions always crop up\nI’d pay off the mortgage\nI’ll go on a world cruise!\nI’ll buy a sports car\nI’d take all the family and friends out!\nAnd yes, sure, treat yourself – but then what?\nDo you have a structure in place?\nFor me, I find it important to set up rules for our finances so let’s say the\n£100,000 comes in, I know that I have a contribution to my main account but\nthen fixed %’s in to savings and investments, bonus pots, holidays and family\nspends.\nHaving this structure in place gives me the confidence to build top line\nrevenue and I know that underneath this there is a plan to catch the money\nand grow specific pots that align with our goals.\nSo rather than a whole wedge sitting there in our main account with the\ntemptation to spend, spend ,spend, I know there’s a nice structure to nurture\nand build longer lasting security for me and the family.\nIt may sound more boring, but structure and a plan,\nI believe, will help create more sustained\nfinancial happiness.\n
URL:https://dadsinbusiness.co.uk/events/if-you-were-given-100000-tomorrow-what-would-you-do-with-it/
CATEGORIES:Money
LOCATION:Page 66-71
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