While everyone wants to win lottery winnings that are worth crores of money, in reality, it rarely happens for the majority of people and we often wonder what lottery winners will do with their winnings.
In this video of Money Tales, we cover money and personal finance mistakes KBC winner Sushil Kumar did in his life and what lessons we can learn from his mistakes and what to do if you win the lottery of crores of rupees.
First you have to park the lottery money in a fixed deposit or liquid funds until
You must repay all loans when you make a solid investment plan. This will help you remain free from the worries of debt.
To protect your family from debt traps in financial emergencies, create an emergency fund.
After that, you have a plan for asset allocation, such as buying a house or a car by hiring a competent finance manager. Take out a proper insurance plan for you and your family.
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