Unfortunately, this does not shock me:
"Amanda Clayton, a 24-year-old mother of two, won a $1 million jackpot last fall, and chose to take the lump sum, which, after taxes, was about $500,000. She bought a new car and a new house. Yet, she's still collecting $200 a month in food stamps. Her excuse? Since the government didn't cut her off she kept taking it. "I feel that it's OK because I have no income, and I have bills to pay. I have two houses," Clayton told WDIV 4 in Detroit. For the time being, her actions apparently aren't illegal. Legislation is pending that would cut off lottery winners from the welfare system." -MSN
I wanna slap her silly.
How about you?
Yeah, we talked about this in another thread. It's ridiculous, really.
The sad thing is, that kind of money should be a tremendous turning point for someone. It's an opportunity to start a small/at-home business, or go back to school, or any number of other long-term beneficial activities. Most though, seem to waste it on a new house, new car, new everything. Sadly, she lost 10% of the value of her new car as soon as she bought it, and the same goes for the house.
Exactly, JaxsonRaine. My husband has always vowed to buy a work-truck if he ever fell into such riches. And work, he would.
We're actually looking at the possibility of coming into a large sum of money(not that large, but still large for us).
We are going to buy a house, but we found a house(not new) for $60k, and we would buy that to cut our monthly expenses in half by eliminating rent.
Then we're going to work on our at-home businesses while I finish my degree. For our car(a 1999 volvo) we need a new radiator, but after that $400 repair it will be running nearly as good as new.
I just don't understand why people waste so much money on interest and on new purchases that depreciate heavily.
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