What to Do With Your Winnings?

Author: Mannie Warren | In category: Slots

It is not every day that people win a decent amount of money at the pokies, but it does happen. That said, the term decent amount is going to be different depending on each player’s perception. But, no matter the amount, there are different things that people can do with their winnings. Some ideas can be basic, or extremely elaborate.

Putting Your Money Where Your Mouth Is

It seems that everyone says they would do something amazing that will help other people. Whether that really happens can’t be proven until they actually win. Most winners do follow through with that promise. Here are some things that people have done in the past that might spark some inspiration if you should happen to hit the jackpot:

  • School Donations
  • Church Donations
  • Family Donations

Some people automatically donate a portion of their winnings, as if it were second nature to them. As long as there are people like this around, those in need will always benefit. Sure, some people feel that gambling winnings is dirty money, but that is a matter of perspective. Luckily, most understand that money is money and if it can help someone then the fact that it came from the online pokies shouldn’t matter.

Doing Something Fun and Different

When you win a sizable sum of cash at the online pokies, you may want to take the time to find something fun to do. As tempting as it might be to play your winnings again, in hopes of obtaining more gains, sometimes getting away from the game to do something fun is the best option. You will be able to clear your head a little, and come back refreshed and ready to hit the ground running. Some ideas of what to do with your winnings include:

  • New Outfit
  • Holiday Hotel Stay
  • Spa Retreat
  • New Electronic Purchase
  • Concert
  • Elaborate Dinner With Friends

When you take a little bit of the money to do something to celebrate your win, it will make the win much more interesting. There is always going to be time to get serious and do what you should do with the money. Don’t neglect having a little bit of fun. Doing so will make gambling seem more like a job than something you enjoy.

Investing Wisely

Perhaps the next thing you should consider is doing some investing. Depending on the size of your win, you will be able to invest the money in various ways. Here are a few things to consider:

  • Stock Market Investing
  • Home Purchase
  • Vehicle Purchase
  • Business Startup

When you learn how to make your money work for you, instead of working for your money, the chances are good that you will see more gains in the future. These things might not interest you at all. If you take the time to investigate some investment opportunities, you should be able to find something that excites you. Take your time and don’t jump at an investment just because someone says that it is worthwhile. Only your gut can tell you whether it is, or not.

Keeping it Safe

Depending on your personal feelings about money, you may be the type who just keeps it in the bank. While this won’t garner a large return on your winnings, it can be good to know that it is still there. That said, whether it is in a savings account or with a brokerage firm, you should understand that once word gets out that you have won a sizable amount of cash, there will be people who will come knocking on your door to try to talk you out of that money.

If you find yourself in this situation, you may want to consider a financial planner who can help you determine whether keeping it all in a savings account is wise. Depending on the amount, it just might be. However, if you are one of the people who just plays for fun and suddenly becomes rich, you may want to consult with a professional.

There are many ways besides a savings account to keep your money safe so that you can use it for retirement, or for a rainy day. If you are considering this, here are a few options:

  • IRA
  • Health Savings Account
  • Money Market
  • Certificate of Deposit

The more you learn about money, the more you will be able to handle any winnings that might come your way. You don’t necessarily have to spend it all at once. But you do need to determine what it is you are going to do with it, once you have it.

There may be times when you find that nothing that peaks your interest right away. If so, it is perfectly fine to sit on the cash for a while until you know exactly what it is you want to do.