Thread: Smart Spending

The other night, my husband and I were sitting on our patio having a cocktail, and dreaming of how our life will be post rv. When all of a sudden, my husband (who is typically EXTREMELY financially responsible) starts spouting off all of the things he WILL buy!! I panicked and have been printing out articles to scare him to death. LOL I no longer have the fear that my husband will buy an airplane and a bomb shelter (lol, must have been the cocktails ), but I started worrying about some here on Rol.

I know this subject has been talked about a lot of times......but, I think it is so important that it should be brought back up! Here is something I found to be interesting...


These sad-but-true tales are not uncommon, say the experts.

"For many people, sudden money can cause disaster," says Susan Bradley, a certified financial planner in Palm Beach, Fla., and founder of the Sudden Money Institute, a resource center for new money recipients and their advisors.

"In our culture, there is a widely held belief that money solves problems. People think if they had more money, their troubles would be over. When a family receives sudden money, they frequently learn that money can cause as many problems as it solves," she says.

Craig Wallace, a senior funding officer for a company that buys lottery annuity payments in exchange for lump sums, agrees.

"Going broke is a common malady, particularly with the smaller winners. Say you've won $1 million. What you've really won is a promise to be paid $50,000 a year. People win and they think they're millionaires. They go out and buy houses and cars and before they know it, they're in way over their heads," he says.


8 lottery winners who lost their millions - MSN Money

I know the dinar is not winning the lottery....but sudden wealth is all the same.

Can't wait to be responsible with my millions!!! lol