How to Spend More Than 14M Pesos ($280,000 USD) in Three Months
October 24, 2017 6:14am CST
This is a rejoinder of the post of @Letranknight2015 on wasting lottery money. I remember I had written in my blog site, RandomThouhgts of Gil Camporazo about a government employee who won Php14M ($280,000 USD) sometime in April 2008. Here's an excerpt from my blog entitled "How to Spend More Than 14M Pesos in 90'Days" of March 20, 2012: "Dionie C. Reyes, 47, a government employee, married with 11-year-old adopted son bought a 6/42 lotto ticket of Lucky 7 pick, system 7 bet worth P70, in a seven number combinations for April 22, 2008 draw and won. "After claiming his winning prize, he right away bought a Sports Utility Vehicle (SUV) in that evening. Then a P4-million house and lot at BF Homes in Las Piñas in some other days. "He gave his six siblings of P50,000 each, P500,000 to his nephews for a 3-door apartment, P1,000 to P30,000 to some of his office mates, and P100,000 to his boss. "He gave his wife's nephew a car worth P850,000, a Mitsubishi Fuzion... "Almost everyday, he spent a minimum of P100,000 in cockfighting by using his ATM card issued by the bank." Two months after he spent all his money, it was reported that he had undergone a heart surgery at the Philippine Heart Center (PHC) without any cash on hand. The Philippine Charity Sweepstakes Office (PCSO) management shouldered the cost of his operation of about P500,000 more or less. Though he's remorseful, he wanted to let the people know that he had nothing to fear for it was his money. He won it by himself and not for the expense of others. Can you afford to follow him om how to spend such huge sums of money?
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That's crazy. Cars require maintenance, you have to pay for fuel and insurance. I would have stopped at the SUV and saved the rest of the money for the future expenses that car would need. At least he also invested a little of that money for real estate (buying an apartment for his nephews), that's one reasonable investment.
3 people like this
• Manila, Philippines
I am not judging people choices, as they are free to make them. But winning such amount in lottery is something that can arrive once i the lifetime. There is not any investment out there, that can produce such amount of money, even if you are doing money laundry you won't have 14 Millions pesos that fast. So, because I know it's something that can happen only once, I am not likely to spend this money so easily. If I am not sure exactly what to do with the money, I will buy some houses, that I will put to rent. Knowing that, with this, I will be getting money monthly. Of course, I will give something to my siblings and office mates, but I don't think I will include my boss inside
• Green Bay, Wisconsin
He didn't keep it all to himself. He was generous to his family, even friends and his boss. Though I wouldn't have done anything like that. I would invest so it would keep earning. I did come into money last year, not a lot, certainly not a lottery. I took care of my bills, and got myself out of debt, and got some things I needed. There wasn't enough for me to do any kind of investing, though that had crossed my mind.
Every-time I watch that guy it really infuriates me! He works for the PCSO, won 14 million but chose to spent it on women and gambling rather than the future of his wife and children. He wouldn't listen to any body until it was too late. He too had tons of debt, still working I think and foolishly betting on the lottery. = as for your last question, by watching these videos about dumb lottery winners I might have the will to control myself and think before I could spent a single dime.
• Davao, Philippines
I always want to win in a lottery. Before I always bet and end up nothing. And I believe that one day I will. If I were the guy, I will invest it in a business, of course, I will buy my own house. And I will probably have a kidney transplant for that matter. I will think about myself first before doing anything of course with the guidance of the boyfriend. And when it happens, I will be the happiest person in the world.
Well,quite an interesting story.He had won a nice amount of money.He should have saved part of the money for the days,when he need it.It is ok to spend some part of the money,but all of them is exaggerated.Good thing is,that he has bought a house,and he can sell it,when he needs money very much.
• Calgary, Alberta
If I won the lottery, I will never let any members of the family know because people dont respect lottery money. They will just ask for money like there is no tomorrow until nothing is left. I will just start a believable small business and make them all believe that alll the money I have are from hard work. People respect money from hardwork.
• Calgary, Alberta
@dodoazo It will work because your relatives wont be asking for money if your money is from hardwork. If you win the lottery, the cousins you never knew existed will suddenly beg for their "balato"