Batsirai Mupfawi a ZIMBABWEAN man became South Africa’s first mega-jackpot lottery winner a decade ago.
After spending five rands (South Africa’s currency note) on a lotto ticket, he scooped the R14 million (about US$2, 1 million) prize.
At the time, he worked as a chauffeur and his wish was to finish his matric. Ten years later, he still hasn’t finished his matric, but the unfortunate part of this story is that he has gone broke and has accumulated a string of debts.
This may be because he never had any financial training, may have never budgeted in their lives and they think that the money is on tap and will continue to pour out till kingdom come. A financial consultant told of how people can spend millions in days.
To the normal person this may seem unreal but imagine, you decided to go on a spending spree. $14 million can fly past you in a breeze. If you started off by buying a Porsche you’d have spend more than10% of your winnings, a 5 million rand house is a third of your win, and you’ve already spent half your winnings on two things.
To make your jackpot last, you’d need to really think like a normal person and not try to be rich because if you tried being rich, you’d be poor in no time. A week in Las Vegas would cost you roughly a 1million and a Porsche 1.7 million.
But to be a bona fide rich guy, you’d need to have a Ferrari parked next to the Porsche. It happened in South Africa. Hell, it happens everywhere.
That’s why I am ALWAYS advising big winners to seek reliable, honest financial help. Find someone you trust. Then, you can spend.