If you were given £100,000 tomorrow, what would you do with it?

Would you have a plan?
Write down your plan.

70% of lottery winners go broke.
Why is that?!

It’s interesting isn’t it that when the majority of lottery winners get their fortune,
they find themselves skint again or worse, bankrupt within a few years. I often
find this a curious thing but I guess with no relationship to money or define
goals or vision of what to they want to progress in to, perhaps the easiest
thing to do is to spend your way back to the life you had before? I’m not sure
of the science behind it, but for me it cries out about the need for creating
‘buckets’ to allocate cash to.

The obvious answers to this questions always crop up
I’d pay off the mortgage
I’ll go on a world cruise!
I’ll buy a sports car
I’d take all the family and friends out!

And yes, sure, treat yourself – but then what?
Do you have a structure in place?

For me, I find it important to set up rules for our finances so let’s say the
£100,000 comes in, I know that I have a contribution to my main account but
then fixed %’s in to savings and investments, bonus pots, holidays and family
spends.

Having this structure in place gives me the confidence to build top line
revenue and I know that underneath this there is a plan to catch the money
and grow specific pots that align with our goals.

So rather than a whole wedge sitting there in our main account with the
temptation to spend, spend ,spend, I know there’s a nice structure to nurture
and build longer lasting security for me and the family.

It may sound more boring, but structure and a plan,
I believe, will help create more sustained
financial happiness.