How would you spend £1m?
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We all daydream. Mostly it’s imaging ourselves thinner or younger or where to visit on holiday next year. But quite often it’s “what would I do if £Xm fell in my lap” and fantasise about what we would spend it on!
I’ve got my 100m Euromillions win all planned out, from investments and gifting to spending sprees and property – I’m ready to mobilise if that rollover jackpot ever rolled my way.
The rest of the British public think a bit more modestly….If £1m ever fell their way – here’s some insight from a recent survey into what people would spend it on!
- The majority would buy a house, pay off debts or their mortgage. Sensible planning for the future from both the men and women surveyed.
- Only 3% of males and no females would give to charity. Out of those %, 100% were 25-44.
- More men than women (16% vs 10%) would take a luxury holiday
- Generation Z and Millenialls were most likely to start a business – a stonking 12% and 9% respectively would follow an entrepreneurial urge. Good to see our younger generations have some entrepreneurial spirit
- The other category is intriguing. 4% of women and 3% of men. Hopefully this means investing or treating family members as opposed to partying their money away!
Some interesting finds here, although no surprise all people of all ages wanted to pay off debts, buy a property to live in/and or pay off a mortgage. There doesn’t seem to be much in the way of future planning which is perhaps why 70% of lottery winners will end up broke! (Vanderbilt University Study 2012)
These results were based on a 3000 person survey by Betway
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