Overseas Property Blog

guide to international real estate investment

home
email us

Scots lottery winners the most prudent

Sunday, July 24th, 2005    Posted by Overseas Property Mall in UK Property

Scots lottery winners are the least likely to splurge after a big win, preferring instead to spend sensibly and invest the cash, a new survey has revealed.

The spend spend spend lifestyle is out, with most winners using the money to buy a new house or go on a nice holiday.

Almost a quarter of those surveyed said they would share their good luck with family and close friends, however 7% said they would not tell anyone about their big win.

The survey, for National Savings and Investments (NS&I), asked almost 1,500 Brits what they would spend a £1 million win on. Not one Scot said they would blow their win on flashy cars or designer clothes and jewellery, in fact 11% said they would not spend anything at all.

Half those surveyed said they would spend the money on a new house or car or a property abroad, while almost one in 10 said they would put it in secure savings and investments.

But while the Scots have a reputation for being tight-fisted they are more likely to give some of their win to charity than winners south of the border, with more than 80% saying they would give to a good cause.

Scotland has had a run of lottery luck in recent weeks. Last weekend Midlothian couple Alex and Sandra Fraser scooped the £8.5 million Lotto jackpot.

In keeping with the survey’s findings the couple said that they would be spending their win on a nice house, a car - and a box at their beloved Hibernian FC.

Just the week before the Frasers’ big win six distillery workers from Glasgow shared in a £15 million Lotto prize. The colleagues from Morrison Bowmore Distillers, each won a £2.5 million share of the jackpot.

But while the Frasers and the distillery workers went public with their big wins according to the NS&I survey most people (61%) would only tell family and close friends.

One in four winners would only tell their partner while 7% would not tell anyone at all, with men more likely than women to keep their good fortune a secret.

Enterprising Scots are also more likely to use some of the money to launch a business idea - with the majority naming their role model in terms of managing their money as billionaire entrepreneur Richard Branson.

Just 4% of Scots said they would model their spending on the Beckhams, almost a quarter chose to follow Harry Potter author JK Rowling’s example when it came to how to spend their riches

Share This [?]

Related Posts

Tags


1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Leave a Reply

© Copyright 2005 - 2008 Overseas Property Mall. All rights reserved.
Close
E-mail It