Casino Win
Let’s just take stock of that question for a moment. A five-figure sum could be worth $10,000 or it could be worth up to $99,999. There is a huge gap between the two. Winning either of those extreme amounts would be a memorable moment, for sure. However, scooping anything in between them would be good too.
Our first piece of advice – if this ever happens to you – is to take the time to let it sink in. That is a lot of cash to think about, no matter whether you scooped it on the roulette table, while playing blackjack, or even during a slot game. You may never have had that much come to you in one hit before, so be sure you make the most of it.
Here are some suggestions on what you could do with it.
Save it all
Most of us are familiar with the idea of saving for a rainy day. Yet many people do not have a financial cushion to fall back on if that day arrives. If you have never had that cushion in place before, a prize like this would help you have one in one fell swoop. If anything went wrong in your life – like losing your job for instance – that cushion would provide months of support when you need it most. It would take away the worry of how to pay your bills until you find a new source of work.
Save some, spend some
Most people would probably go down this route. It means you can put some away for a rainy day yet still have some fun now. If you blew the lot, you might well look back and wish you had saved some.
The amount you save depends on how much you’ve won. Consider the different options and make sure you save an appropriate amount (think of that financial cushion we mentioned above, too). Doing some research is a good idea here, before you make any firm decisions.
Pay off any outstanding bills
If you have balances on credit and store cards, it is certainly wise to use your winnings to pay them off in full. You can rack up a lot in interest on these cards – something that makes them even harder to pay off. Clearing your debts is very freeing and a great thing to do.
Treat yourself!
This fits in with spending some, as we mentioned above. If you want to treat yourself but you rarely do (or you are rarely able to), it might be good to set a limit on what you might spend. How much would you be happy to spend? What might you spend it on? Be sure you don’t spend the money for the sake of it though. Think about what you might want to buy and get a good deal if you can. It will make the cash last longer.
How would you spend a four-figure prize if you ever managed to win one at an online casino?