$200,000 and it will be blown before the end of 2017!

Cant help but feel its just a great waste. It could really set them up for life, however, I just think it will be spent before they realise they had it.

Perth man goes from homeless to Lotto winner

Blacky

 

Sounds like it. Although:

The remaining money, he said, would be spent on studying for his dream job on a minesite and a new car for his mother.
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I would generally say that education is a good investment. Not sure about trying to get a job on the mines now?

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umm yeah, if your really struggling financially a big wedding should be at the bottom of your list of things to spend money on

 

Mum needs a new car..why not a Corolla or Hyundai i30?
It will be gone in under 12 months, some people just can't help themselves unfortunately and are destined to struggle. This kind of thinking really amazes me even though I see it often.

 

It's his money to spend how he wants, not yours.

 

My first thoughts were a bit despairing but hey the wa economy could do with the splash of some cash.

 

I tend to agree. At least it's a home deposit at the bare minimum. But not everybody's an investor.

 

He's a chef and his fiancé bought a vacuum cleaner. Hardly over the top.

He's only 20.

 

Agree.

I have no issue people spending their money how ever they want - so long as they don't then complain about their situation.

They are both 20, he has dug himself out of been homeless to have a job. Good luck to them both.

 

Exactly....

 

Good on him.

I would have kept it secret though. That way no one could criticise when the money is blown.

 

Was kind of on board with the feel good story until he said he was getting his mum a mustang. Nice sentiment but agree that they will be back to struggling soon enough with that sort of splurging.

 

Lol, i didn't even know Mustangs were available in Australia

 

after the expensive wedding I doubt there will be much left especially after reading this part .....

study is a good sign but I would guess they will splash 100k on the wedding leading up parties and honeymoon all in a few days.

the mustang will be about 30-60k as it sounds like he likes to spend hard and go for the best.

That leaves maybe 50k, probably last another 1 or 2 weeks.

easy come easy go

if it was me I would put a load into super at that age, invest in various shares after researching and a deposit in a first home with the FHG. The rest for education.

 

Should be part paid weekly or monthly over time, still use it as equity etc, but not in one hit to blow

 

Those who cant manage $200 have no chance whatsoever managing $200,000.

With regards to some other comments, I couldn't care less what a homeless person does with a hypothetical money win, but I would rather the money be used for something constructive besides booz and cigs. I would sure like to see my tax dollars being spent on many other things before that nonsense.

 

And this is why they need to teach cash flow management in primary school.

 

That's assuming the young teachers know how to manage cash themselves...

 

Didn't take long for someone to talk about their tax dollars. Actually, lotto winnings.

 

When I say tax dollars I am referring to the money they get from the government, ie our tax dollars. If they come across a big cash win I believe they have a responsibility to not just waste the money. If they are not on any government handout then by all means smoke it away.

Same thing with someone who is on unemployment benefit ie our tax dollars, I believe they have a responsibility to take the next job that comes along. If they are not on any government benefit then by all means they can be picky til kingdom come.