Winning $50k & How To Spend It
Ever wonder what you would do with $50,000?
Well, start considering your options, because winning the Chicago Chesed Fund’s 4th Annual Raffle could mean $50,000 cash in your pocket. This Labor Day, one lucky winner will choose a Tesla model of their choice or $50,000 cash.
So what’s the best way to spend all that newfound money? Dream vacation? Sail boat? Let’s look at 4 ways to wisely spend your winnings.
- Eradicate the debt
The most risk-free way to spend your money, paying off debt frees up daunting interest fees and puts your mind at ease. According to a 2016 study on household debt, the average household has $135,924 in debt, not including $1,300 a year in interest for those who also carry credit card debt. Whether it’s credit card debt or personal loans, eliminating debt removes a heavy financial burden and will allow you more freedom moving forward.
- Put away for your kids
We all want the best for our children and securing their future is an excellent way to invest your money. In 2016, the average college graduate racked up $37,000 in debt. Designate funds towards their college tuition and avoid hefty loans bound to cause unnecessary stress.
- Pay off your mortgage
While it may not be the most exciting option today, the sooner you pay off your home, the less it will end up costing you. Expedited payments mean reduced interest fees that free up money to be used for the important things in life, be it retirement, college, or maybe that cruise you’ve been dreaming about.
What’s better than having $50,000? How about $100,000. While investing your money is unpredictable, finding the right balance between risk and reward is key to a wise investment plan. Explore investment options, such as real estate, an index fund or a promising start-up business.
All it takes is a ticket and a little prayer. So what are you waiting for? Your chance to WIN BIG AND CHOOSE is here! Click here to purchase your tickets today.
Drawing will be held Labor Day, Monday, 9.4.17.
Ma’aser money can be used towards the purchase of raffle tickets.