I always told myself I would split whatever I won into 25% portions.
25% went to long term investments (retirement property, blue chips stocks)
25% went to family/friends and charity (mortages, education funds for kids, donations)
25% went to here and now - let's celebrate (travel, new home, boat, cottage, furnishings, shopping sprees in NYC, etc - material things)
25% went to short term investment (medium risk stocks, start up business, etc)
I would use the return on investments from my short term investmetns as my monthly budget so the better I am at investing my money the nicer monthly cushion I will have.
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