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I have read with amazement a story in my own local paper this morning. It 'been a couple in their early 30s in Perth, Western Australia who won AUD $ 793,151.87.
His dream was realized just two years before Lot. Lucky people eh?
OK. Nothing too surprising that well - until now. Reading on, I was shocked to learn that this story is news because now, despite their massive windfall, this couple had never ceased to claim benefits. Greedy huh?
ThatWelfare money is available to disadvantaged people who are in financial difficulties. Essentially is the "survival money.
But the story gets worse, much worse ...
The couple spent all the money in just seven weeks! Gone. Disappeared. Seven weeks! It seems unlikely. So what do you say that?
The first thing that struck me was how this couple was totally irresponsible. How to spend $ 113,307.41 a week for seven weeks? " I have great difficulty understandingI know
What if this couple had spent only $ 93,151.87 in "fun" and put the $ 700,000 in an interest bearing deposit within three months at 6.00% interest, while having some decent financial advice? have accumulated after three months, have another $ 10,500 to play with (less tax of course).
So many stories like this abound - people are not financial skills suddenly in possession of large assets or a lottery win and Zap! Exactly how theythe two, is gone. How do you run?
For each desire to learn basic financial skills "The Richest Man in Babylon" by George S Clason is a great start. These people had bothered to read a book, would then still a significant portion of that money left. Perhaps it would be even more. How that must prove something, and there is a strong possibility, either in jail or fines for massive government fraud.
It pays to educatethemselves.
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