Three Ways to Enjoy Your Winnings

When you’re lucky enough to win the lottery, there are a lot of things that can happen. You can go on a shopping spree, buy a new car or a house, or pay off debts. You can also put some of the money into savings and investment accounts to grow even more. It’s a dream come true for many people. However, if you’re not careful, winning the lottery can actually hurt your family’s financial situation. This is especially true if you don’t have a plan in place to manage the money wisely. Here are three ways to ensure that you can enjoy your winnings without making any major mistakes.

State lotteries have a long history in America and play an important role in raising funds for a variety of public purposes. In colonial times, they financed roads, libraries, churches, canals, and colleges. Lottery proceeds also helped fund military expeditions and the expansion of settlements. The Puritans disliked gambling, but by the 1670s it was a common feature–and irritant–of everyday life in the American colonies.

In the 1960s, six states started lotteries (Colorado, Florida, Idaho, Iowa, Kansas, and Oregon). Since then, more than 30 other states have followed suit. Most lotteries establish themselves as a government-controlled monopoly and begin with a modest number of relatively simple games. Then they expand in response to constant pressure for additional revenues. As a result, lottery officials often find themselves pursuing policies and dealing with constituencies that they don’t have any authority to change.