Spending Your Winnings On Good Causes

If you win a big sweepstakes cash prize, how should you spend your money?  How about spending some of your money on good causes that benefit others?  There are plenty of things you could with all those zeros in your bank account!

Donate Sweepstakes WinningsSet Up A Scholarship Program

You could meet with administrators from your old college or high school and award a few students with some scholarship money.  Whether it’s for music, athletics, writing an essay, etc, you can really make a students life a lot easier.  After all college is only getting more expensive!

Local School Improvements

If you have children going to school and you want to improve their learning experience then this might be a great option, especially in these times when budgets are being cut.  It is possible that equipment at the local is out of date, the playground may be old, or the classrooms just might need a complete makeover.  Invest in making it a better place for all of the children, there is always room for improvement and it can start with just a small gesture from you.

Charities

Pick and choose the charities carefully.  Make sure it is legitimate!  You may want to research some charities that have the same visions/interests as you so you are satisfied with it.  You don’t want to share your money with something you won’t be happy with.  Take time with this before you make any definite decisions.  Here are some well-known charities that may be a good place to start:

Make A Wish

American Cancer Society

Muscular Dystrophy Association

Unicef

Red Cross

These are among the biggest but there are thousands of charities out there, so like I said, do your research!

Trust Funds

Setting up trust funds for your children or grandchildren  will really help them in the long run.  There could be tax benefits.  Check with a tax lawyer.

A lot of people make mistakes with their big winnings so we hope these few things can help you use your money wisely!  Always remember to be smart about your money; there are too many stories out there where winners that go bankrupt!  Don’t let that be you!  Even if you win a smaller prize, like RewardIt’s $1,000.00 giveaway, think before you act impulsively with your win.  And don’t forget to smile.