Special thanks to Publishers Clearing House for sponsoring today’s discussion. The opinions shared in this post are 100% mine.
I was 23 years old, newly married, and working my first “real” job when I first realized that it was possible for a “normal person” to be a millionaire. The commercials on TV where people won a million dollars didn’t seem like they could possibly be real. My husband and I met with a financial adviser who explained how we could save for retirement. By dedicating money to a certain account each month, investing wisely, and being frugal we could save a million dollars in 30 years. At the time that sounded like such an unreal amount of money. Who would ever NEED one million dollars? We should be able to live on a fraction of that amount. We joked about saving our first million and then going on to many more.
Well, times have changed and I have learned a lot since that afternoon.
We haven’t saved our million yet. Our salaries are spread pretty thin due to student loans (that will seemingly never be paid off), two kids, a mortgage, and all the other “needs” we meet each day. Every once in a while my husband will say, “if I won a million dollars….” and we take a moment to dream of the ways we would use the money. Walk into my dream with me for a moment….. (hear the wavy dream music?)
Scenario #1—Spend it. All of it. On crazy things that are completely impractical, like paper plates that are biodegradable so I never have to wash dishes again. Which I probably wouldn’t, since I’d hire someone to do all of that for me. Oh, and while we’re at it, someone would need to cook for my family, too. I’d be too busy reading book after book, or skimming Pinterest for all of the crazy ideas that I’ll never actually do. In a few years, I’d be that woman that people would whisper about. “There goes that girl,” they’d say. “You know, the one who got the million dollars then spent it all on different shades of lipstick.” Yes, that would be me.
Scenario #2—Wear the giant check. I mean, the giant check is so cool. Why waste that thing by putting it away after winning? I’d strap that baby on and wear it all day long. I would spend the money blinging out that giant check and buying coordinating accessories. Sure, it might be hard to get into a car with it on, but I’d manage. Besides, I wouldn’t be driving anyway. My limo driver would figure it out. Meanwhile, my family would become like the Duck Dynasty of Tennessee. Except in our TV show, we’d have to do something else since that idea is already taken. That’s okay, with $1 Million I would have time to figure it all out.
Scenario #3—Frugal. You know this is the one I’d really choose, right? The first thing we would do is give at least 10% to church. We would delight in that, knowing how God could use it to spread his message around the world. Next we’d pay off our student loans and other debt. That’s a goal we’re already working toward, and winning money would be an additional way to meet that goal. We agree that a priority is to give a major part of it to our alma mater Milligan College, the Christian liberal arts school where we met. We would want to provide scholarships for worthy candidates to get a college education without going into debt. We would also save enough money to put our children through college and graduate school. I would love to share with our families, too. My mom has always done without, putting others before herself. I would tell her to retire and visit her sister for as long as she wants. We’d build a house for my in-laws. I’d make sure my grandparents were taken care of for the rest of their lives. We would buy that land we’ve always dreamed of. I’d set up a berry farm for families to visit. We might even do a bit of traveling. A trip to Europe could be planned without concern for expenditures. You know….my husband and I would probably keep working. We both love our jobs! I’d still use coupons and try to stretch those dollars, even though there would be many more to stretch. We would use the money to make sure that our children were able to develop their own talents to their best ability. A million dollars would sure come in handy for us.
With the sweepstakes offered by Publishers Clearing House, the winner receives $1,000,000 PLUS $5,000 per week for life. We’d plan to gift a portion of that $5,000 per week to a worthy cause, a family in need, or to our church. The rest of it would go into savings. After all, I’ve already listed so many other ways we’d use the money. I have a hard time spending money on myself; having that million dollars would be plenty for me! Besides, I plan to live an awful long time, so $5,000 per week would be a lot of moolah.
How would you spend a million dollars if it came your way? I wonder how Leroy (pictured below) spent his!
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— Savings in Seconds (@SavinginSeconds) May 29, 2013
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It would be quite wonderful, wouldn’t it. The dreaming is kind of fun….
Yeah, no million for me yet, either, lol!
I’m pretty sure I’d still be penny pinching with $1 million. Money goes fast….even $1 million, that’s why jackpots are nearing a half billion. Money goes quick when you don’t watch it, even large sums!
oh man!!! i want to win haha!!! i’d buy a house for my family for when they come visit, new cars, and designer handbags and shoes of course! 🙂
xo,
Sandy
Sandy a la Mode
I don’t know what I would do if I won that! Probably faint hahahahha!!!
The first thing I would do is make a big addition to my boys college/savings accounts. Then we would buy a new Yukon because ours has seen better days. The rest would probably be put into a savings account for retirement. Exciting times right? 🙂
I think it’s very exciting!! 🙂
Oh I would so love to win a million!!
I love how you gave 3 scenarios because that is how women really think about these things anyways!
Scenario 3- I’m with you. My family has even dreamed together and first is always our tithe. We’d donate – my daughter has several charities. Pay some bills and save. Of course, we would spend some on us, too.
That’s great that your family wants to give, together.
Scenario 3 – giving to the church and saving are at the top of the list. We would play with some of it, but our tithe comes first.
Good for you!! That’s how I was raised, too. It’s amazing what God can do with that 10%.
He knows exactly where it’s needed and how it will be used. I’m glad that tithing was discussed in the post.
If I won, I would pay all my bills, all my children’s bills and start savings accounts for all my grandchildren and I do know of some wonderful charities that could use help–and I would help.
That’s great!
Well, I am getting laid off July 1st, so it would be a relief to know that I would be okay if I don’t find a job right away. My boyfriend and I have been trying to plan a vacation also, but put that on the back burner since I am losing my job, so a vacay would definitely be in order. I also have student loan debt that I would like to reduce or get rid of altogether.
Aw, Christy, I’m sorry. Hoping that you find employment quickly!!
Scenario 3 – first to the church and donations. My daughter helps with several organizations that we would give to. Pay off the mortgage would be nice. Travel – I’d love to visit the northeast and see the lighthouses and Hawaii would be amazing.
Scenario 3 – I would still donate to the church and some organizations. Pay it Forward is a good philosophy to have. Not to say that I wouldn’t have fun with some of it, too. There are many places both in the states and abroad I’d like to visit, and I’d love to remodel my kitchen.
oh man I dream about this every time I look at our bills! haha. love the comment about wearing the big giant check around your neck and walking around with it… boy will you get a lot of stares! JEALOUS stares 🙂 I think I probably would do the same- pay off all our loans, donate to church, then who knows. I’ve always actually wanted to jump into a pile of money on the bed and throw it up in the air like snowflakes. Yes, I think i would do that afterwards 🙂
Thanks for sharing!
Christy
Sunnywithasideof…
PS thanks also for reading my guest post on sandy’s blog! Thanks for commenting, I’m glad it lead me to your blog!
Christy, you just made me laugh out loud! I can totally see that, jumping into money and throwing it up…..like playing with the leaves in the fall. So funny! I would want it to be new bills though. I shudder at the thought of dirty dollar bills all over my bed.
I would buy a reasonable house, 2 reliable cars. I would put 100,000 into a savings fund for my kids’ college, and I’d put the rest into my retirement, because I have nothing in my retirement fund.
Natalie, I like how you are very practical in your spending. Reliable & reasonable are what we are thinking too. I’m hoping you get to put away some money for retirement because that’s definitely a priority (at least when getting to my age!)
If I win a million dollars I would still be frugal…it is in my blood so to speak. After all, my major in college a very LONG time ago was home ECONOMICS!!!
Great posting – Fun to think out with a group!
oh, I love to dream about this. Tithing is first. We would give back, pay some bills, play a little, and save. Do a little remodeling and shopping. I would like to shop some. Have fun with some of it. We also talk about giving some to our grown children.
Pay off student loans, and purchase a home for my family.
I’d work because I love what I do, not just to pay back student loans and for pre-school.
I would love to win something like this, life would be so much easier!
It would be great but I have been doing pch for years and nothing good luck to all
If I won a million dollars, I would first pay off every bill. Second, I would buy myself a car so that I would have transportation that would enable me to find a job. Thirdly, I would pay my Dad’s mortgage so that his house would be paid off and would put more money in his pocket to fully enjoy his retirement. And lastly, I would make major renovations to our small but modest home into a large 10 bedroom home for all of our grown kids and their new families to come live with us – so that I can enjoy my grandchildren every waking moment.
There are just people who are lucky enough on game of chances. I’d say I’m not one of them. It would probably take me time to digest, should I have that much money while planning how to spend it may not come as easy. But one thing I know I shouldn’t forget for sure is to provide my mom total comfort that she deserve after all she has done for us.
What a beautiful gesture! I would be giving lots of money to my mom, too. I want her to be able to retire.
yes, I am sure I would still pinch if I won a million dollars
I would love to win too. It would be in my budget to allow myself a certain amount every month for sure. You must have a plan and lots of determination. No matter what the possibilities are of winning PCH if you don’t have a budget any amount could become “not enough” , real fast ! (Smiles)