Small lottery win: advice wanted

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LotteryAdvice
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Small lottery win: advice wanted

Postby LotteryAdvice » Thu Oct 01, 2015 9:54 am

Hi Everyone
I'm a occasional poster but have used a different name for purposes of this post.

Unbelievably we've just won a significant amount of money in the lottery.

It's not millions of pounds but it's enough to make our planned house move a lot easier and we're looking at an extra bedroom or two.

However I would like some advice.

I'm not sure whether to explain to friends or family where this money came from. My really really close friends know that we were really stretched financially in our house hunt and so they're naturally going to be curious about why we've suddenly "skipped a step" on the housing ladder and although I don't want to pretend I also don't want to be known as "the lottery winner" whenever I pop in to someones house for coffee/school gates/dinner parties.

Part of me feels I can tell my close friends and ask them to keep it quiet but in my heart I know that these secrets have a tendency to leak.

I did think about pretending it was an inheritance but my family are not wealthy so that's pretty unlikely and likely to fall apart when my family visits and talk to my close friends (my mum comes down a lot).

Does anyone have any advice?

I know it's a bit of a first world problem but its stressing me out and I'd like some help if possible.

Thanks all
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NorthcoteLuvvie
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Re: Small lottery win: advice wanted

Postby NorthcoteLuvvie » Thu Oct 01, 2015 10:46 am

self-certified mortgage?

you used to be able to borrow a lot this way, not sure any more, but it might be worth a go

:-)

Good luck and can you lend me a tenner?

:lol:
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Mum2two2012
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Re: Small lottery win: advice wanted

Postby Mum2two2012 » Thu Oct 01, 2015 10:48 am

Hello.

Firstly CONGRATULATIONS :lol:

I win the lottery every night (unfortunately only in my dreams!)

I think you should only tell the people you really trust IF you have to tell anyone at all. I cannot imagine any of my friends would ask me how I financed a new purchase or extension or house move. They may speculate and even joke about the lottery but I do not think I would tell.

I hope you and your family enjoy your winnings and all it will help you all accomplish . Let people wonder. Keep your knowledge to yourself. I think it will make your life easier in the long term!


Good luck and enjoy. I am off the corner shop to buy my ticket . ;)
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sw1234
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Re: Small lottery win: advice wanted

Postby sw1234 » Thu Oct 01, 2015 11:56 am

I would keep it to yourself. I see only downside of spreading the news and no upside personally!
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ExitPursuedByABear
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Re: Small lottery win: advice wanted

Postby ExitPursuedByABear » Thu Oct 01, 2015 12:35 pm

Congrats, what a nice problem to have! :D

I'm sure they won't ask. (If they are that way inclined, they might just speculate that you've probably overstretched yourself on your mortgage.)

You could mumble something about your sellers being desperate to sell so you got lucky.
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windmill26
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Re: Small lottery win: advice wanted

Postby windmill26 » Thu Oct 01, 2015 1:09 pm

Congratulations!
My advice is "never talk about your financial and personal affairs to anyone" .I learned this the hard way,friendships sometimes cool down or dissolve entirely (it can happen even to the strongest friendship).I keep my problems and victories to myself,you will be surprised what can make people jealous or judgmental !
I also don't see why you have to explain yourself to anyone in your social circle.
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juliantenniscoach
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Re: Small lottery win: advice wanted

Postby juliantenniscoach » Thu Oct 01, 2015 1:53 pm

Congratulations. I second Petal's advice. It's no one's business but yours. Enjoy it.
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vendredimanche
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Re: Small lottery win: advice wanted

Postby vendredimanche » Thu Oct 01, 2015 2:32 pm

So it does happen!
Congratulations - and even better (I think) for not being such a life-changing amount! It must be amazing to have that extra financial cushion.

As others have said - it is your private business!!

Maybe it's just me but I wouldn't dream of asking anyone how much their house is worth, how big a mortgage they have, how much they earn, or how much they got as a bonus!

So enjoy the win and don't feel like you have to justify anything.
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jimisayo
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Re: Small lottery win: advice wanted

Postby jimisayo » Fri Oct 02, 2015 8:48 am

My right hand would accept the cheque. My left hand would not know about it.

I would not tell a soul, and would not feel the need to explain anything. I'm not the type to go on a lavish spending spree anyway.

The kind of people that would pry into your financial affairs are the type that would gossip. You'll be amazed how quickly your win snowballs into a multi million pound rollover sum.

You're better off without unexpected jealously, especially from the close friends that are appalled you didn't even offer them a gift. Ironically, this would be the painful way to learn who your real friends are.

Congratulations!
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SW11er
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Re: Small lottery win: advice wanted

Postby SW11er » Fri Oct 02, 2015 7:59 pm

I certainly wouldn't lie about how I came to afford the house, nor would I go out of my way to tell people how I came into more money - however if people did ask me I would tell them. I doubt they will - loads of people round here wonder how people afford things without asking.

Eventually you will tell someone (you kind of already have!), and others will find out - so why try to be all secretive. It will just make your life more complicated. Just enjoy your good fortune but don't make a big deal out of telling or not telling people.
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auntieplanty
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Re: Small lottery win: advice wanted

Postby auntieplanty » Mon Oct 05, 2015 8:32 am

Congratulations!

I remember musing over such a think happening to me a few years back, and wondering what I would do. If the win was significant (i.e. h-u-g-e) then I was going to get a solicitor to collect it on my behalf and then sit on it for a month or two - might seem extreme -

The minute that word gets out that you have some unexpected dosh, then all sorts of folk come out of the woodwork - so if you wish to hang on to it, then tell no-one, if you wish to give it away, then tell the local newspaper/gossip and it will be gone by the end of the week!

People make money on shares, a win at the races, etc but it never seems to invoke the same begging scenario than winning the lottery - funny that!

Good luck!
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