Winners Who Lost All Their Lotto Winnings Have Moral Lessons

A moral lesson is a lesson for humanity. It has a human side because it shows how the folly of humans can negatively affect the supposed good luck that has happened to a person.

Most Lotto winners definitely lead great lives.

When Sonia Davies and her four family members won about £61m in the Lotto, they were exhilarated. But like the others before them, they ended up bankrupt before they even realised it.

According to analysts, the individuals and families winning the lottery often splurged the money.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "It can be tempting to go in a spending spree if you come into a large amount of cash, but investing it for the future allow we it to grow further, and can provide you with a healthy income in the meantime if you need to draw on it."

A need to diversify money is also another key.

Mr Khalaf said: "The golden rules are to diversify across a number of assets so not all your eggs are in one basket, and to shelter as much of your money from tax as possible using ISAs and SIPPs.

"If you're in any doubt it might be worth considering taking financial advice."

We believe that these are better alternatives that grow your cash when you win something. Invest. It is normal to splurge, but maybe just a single vacation or fancy dinner should do.

An additional post-script advice: always know the investments you're going in to. Or else you might lose everything.