After pinching yourself several times, checking and checking again that your current account has ‘000’s’ before the ‘.’ and not after, confirming you’ve bagged a big cash raffle, what do you do next?
Whether you want to take a sensible conservative approach and store your winnings in savings, or choose to buy yourself new cars, homes, or splurge on something fantastic, one great piece of advice is to pause, digest what is happening to you and keep the news secret. Give yourself a chance to adjust to your new normal of a financially secure future – no mortgage, no debts, no worries. Once reality has really sunk in, then it's time to plan your new life.
If you're looking at spending or saving your cash prize, here are five top tips for enabling you to gain the maximum return on your winnings.

5 ways to spend your raffle cash prize

First things first, you now have all the time in the world. Once the money is spent, it’s gone for good. So, ahead of the big cash prize raffle splurge:
  1. Get some professional advice. Thoughtfully putting some money aside can, believe it or not, be really exciting. On today’s interest rates £2 million could generate over £80,000 gross income per year, without really lifting a finger. Not bad when you think about it. Get some professional financial advice to ensure that you pick the best means to store your savings, or invest if that's your preference.
  1. Buy the dream home. Once you’ve made a plan to maximise your winning’s potential and paid off any credit card debt, it’s time to find and buy your dream home. Or, a less flashy, alternative, renovate where you live now. A word of caution: think twice about moving far away from friends and family or purchasing a mansion with acres of land – you may miss being miles from ‘home’ and the annual up-keep of a huge pad can be eyewatering depending on your postcode.
  2. Travel the world. Ever wanted to wander through Time Square in New York, trek up to Machu Picchu in Peru or swim with sharks in Cape Town, South Africa? Now you can. According to Earth Trekkers, travelling the world for a year isn’t as pricey as you might think (and most people don’t win cash raffles!). They estimate costs are £20,000 to £25,000 per person for a year-long voyage. Much will depend on what you enjoy doing, but clearly a week in Tokyo is going to set you back more than chilling in Lombok. A blend is probably the answer. Alternatively, if you're more of a home bird, the UK has some astonishing locations worth visiting. Why not invest in a motorhome and get ready for an experience on the road?
  3. Share the love. There’s an old saying that ‘Charity starts at home’. Whether it is helping a family member or friend, or donating to a charity you care deeply about, a common trend from winners is to provide financial support to someone or a cause that matters. Understandably, sharing your good fortune is part of the pleasure in winning big as you get to do good and feel great at the same time. Many players appreciate more chances to donate to a cause they care about - one day it could be you!
  1. Do something for you. Take time to connect to your inner child and let your imagination run wild. You now have the time and resources to commit yourself entirely to a project or passion that has laid dormant until now. Your new financial freedom gives you the opportunity to get the most out of what you enjoy in life. If nothing comes to mind immediately, a good starting point is exploring the hobbies you enjoyed as a child. As a nerdy boy, I loved Formula 1, golf and acting. I’d plan to visit the numerous European Grand Prix, play golf while abroad and get acting lessons. It's what dreams are made of, perhaps the date is approaching where it's time to buy a raffle ticket, and a sign to put your passions first.

Want to get started with your own pathway to success?

Purchase a ticket from Raffle House today to enter a competition and take the step to win your own cash prize.