Making The Most Of a Financial Windfall in India

Just like in the rest of the world, people in India dream of striking it rich. This is one reason for the popularity of online lotteries. Whether you play live 20-20 Teen Patti games, International lotteries, or other games of chance, the goal is the same. You want to have fun, spend little, and maybe win a major prize. When that happens, do you know what to do with the huge amount of funds you suddenly have?

People face this challenge every day. Perhaps they hit the lottery jackpot, inherit a large sum of money, or come into a settlement. The end result is the same. You move into a class of people who must consider how to make the most of their cash in order for it to self-sustain. Below, you will find some professional tips on how to accomplish this in India.

First thoughts

The way you handle your financial gain is directly tied to the way you view money in your current and past life experience. According to your personality can lead you to making choices that may not be the best for you. Below are some things you should consider.

  • Are you a saver? Many people who live an average life understand that the day will come when they will have to rely on savings and retirement to survive. These people save modest amounts of money for the future. When this person comes into a large sum of money he may choose to put a chunk of the money into his savings. The flip side is, he may consider this money as a “gift” since it is money he did not work for. He may consider just spending all of his money and look at it as a reward to himself and his family.
  • Are you emotionally tied to money? Everyone will have an opinion of what you should do with your money. You may see it as an opportunity to help the poor. Your family will think that you should share the cash with them. It feels good to help others. However, there will always be more people who want your help than the money can accommodate. Will giving all of the money to others help you attain the goals you have for yourself and your family?
  • Will using the money to make changes in your personal life be enough for you? If you live paycheck to paycheck, paying off your debts will make you more comfortable? Will knowing you have the money into an account that is reserved for your retirement make you more concerned? Do you have assets in position to educate your children and help them have a good start in life?

Smart Tips

  • As we discussed, your personality plays an important role in what you will do with your money. With that in mind, you may not be the best person to make the financial decisions. The first thing you should do is hire a financial advisor to help you. Top financial advisors will help you identify your needs and goals. They will take the pressure off of you by addressing financial requests without allowing emotion to cloud their judgment.
  • Pay off all of your debts. Without a doubt, paying off what you owe is always a top priority. Firstly, it saves you money in interest charges. Secondly, it puts you in a better position with financial institutions by improving your net worth.
  • Do not make any financial decisions beyond these for at least six months to one year. Give yourself time to reflect. Let the excitement calm down. A calm mind sees things more clearly. Rushing off to open your own business may seem like a great idea immediately, but a year from now you may be asking if it is the right business for you. You may decide that it is too much work and you would rather invest your money and let it come to you.
  • Save 30% of your money. This is a general rule of thumb in India. It is suggested that putting 30% of your windfall in an interest paying account will take care of almost anything that comes along.
  • Pay yourself. Putting large sums of money in your checking account that is available to spend without thought is a mistake. It is easy to drop large sums of money on designer clothes, expensive watches, random trips, and fancy dinners. Instead, put yourself (and your spouse) on an allowance. This is a sum of money you can go through in a month. It will force you to ask yourself if trading off a car or buying a lovely watch is something you really want to do. Everything else you spend money on should be talked about with your partner and your financial advisor.
  • Create a diverse portfolio. When you invest, invest in several options. Do not put all of your money into one venture. Have several in investment trades so that if one falls, there are others to pull you through.


Making sound decisions and using good judgment helps you sustain your financial gain. Be sure to keep this list happily. We never know when we will strike it rich. You could win the lottery today. Please make sure you are ready!

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