One Million Dollars Isn't What It Used to Be

There was a time the word “millionaire” carried cachet. According to the Oxford English Dictionary, the word was first used in French in the early eighteenth century and in English nearly a century later. Regardless of your station in French society in 1719, you would recognize a net worth of one million lives being notable. The same would be true for one million U.S. dollars a century later. Only a small percentage of society could be listed within a roster of millionaires(Forbes magazine).

Millionaires are easier to find today. Inflation and the erosion of the value of a dollar over the course of two or more centuries has put the goal of having a financial worth of one million dollars within reach for more Americans, but the club is no longer the exclusive party it once was. When the term became popular in American print, the persons most likely to be millionaires were the heads of large, multinational corporations. These are the same folks who are most likely to be multi-billionaires today.


- Don

A little on the dark side of too much money

We have all heard of the stories that lotto money can change your life for better or worse.

For these people, this lump sum of money have turned their lives into a nightmare.

First we have Keith Gordon who won $14 million and thought that he wouldn't ever be stressed about money again. He ended up dying from a heart attack that was caused by 'money stress' as he quit his job and made some bad investments which lead to him getting a drinking addiction.

Another person we have is Callie Rogers. She is a 16 year old teenager who won $3 million. She  ended up splurging her money on expensive gifts, night outs and unfortunately drugs. None of that made her happy and the consequences were that she tried to end her life. She has now learned her lesson and now understands the value of money.

For more stories on how lotto changed the lives of people, check out the link below:

http://www.news.com.au/finance/money/wealth/beware-the-lotto-curse-when-instant-riches-ruin-your-life/news-story/e5cd968928f894f6404cdc0924493884


- Katie

'Cheap' or 'Smart' ?

We all know at least one person that hears the word FREE and would come running to you. Or even drive across town to save 10 cents on a litre of petrol. 

They absolutely love freebies, coupons, discounts and bargains. Doing everything at all cost not to pay full price or pay as little as possible ! You would usually find these people comparing various deals before they let the hammer drop. And if they can't find a deal, then they'll simply not purchase and wait until there is some kind of promotion. Some of them, may even try to still bargain despite being on sale.

Although some may like to call them 'cheap', while some may argue 'smart' ! 

It is very important to make notice of these people, as they demonstrate a lifestyle that is able to not solely focus on material possessions and not allow impulses to get the better of them. Money is truly appreciated, valued  and MAXIMISED ! Many in which can't do in today's society.

Imagine these individuals with a million dollars... do you think they'll still be savers ? or will they turn into 'spenders' ?

It is indeed a difficult question but I still believe there will be a % of them who would still be 'savers'. As many don't save simply because they don't earn enough for their future rainy days but rather they have an ideology in their mind that values money.

So what are your thoughts ? Are they 'cheap' or are they 'smart' ?

- Mimi

Gadget Nerds vs Money

 

Gadget nerds or gadget gurus or gadget freaks, whatever you may like to call them. If you don't know what I'm talking about then I'll describe it in a sentence or two and hopefully you'll be able to picture those kind of people.

So when I refer to those people, I mean the obsessive, somewhat peculiar, self-confident and adept individuals with the latest and greatest technology and gadgets. It usually comprises more of males than females but females do exist in this group. They're also the people you would most likely see camping outside the Apple store, waiting to be first in line for the newest iPhone, iPad, MacBooks and so on... Constantly upgrading to the latest tech. 

They're are indeed great people as they always know about the latest technology and how to utilise it to benefit them. However, these individuals tend to splurge on gadgets and technology like I mentioned but also tend to push their budgets to the very end and some, going overboard.

And with no doubt, you can see where they'll be heading with a million dollar figure in their bank account. In fact, a million dollars may be gone within seconds of reaching a gadget nerds bank account. With the most luxurious laptop, Luvalgio costing exactly 1 MILLION !

Interesting articles:
UK's biggest gadget geek
Breaking wallets to stay on top of technology


- Mimi

The ones that gave it all away

There are many big-hearted people who have won the lotto and gave nearly all the money to charity. They were the ones that parted from the money they won to help the lives of those less fortunate than them.
Please give a round of applause to these generous people.

First we have Ray and Barbara Wragg, from Britain who won 7.6 million euros and have given away 5.5 million euros to family and friends, strangers and charities.They love to make people happy. They now have little to give away as they are saving up for retirement. They continue to buy lotto in
hope to win again so they can give it all away and make more people happy.

  

Next we have Tom Crist from Canada who won 24.5 million euros and plans it give it all away to cancer charities in memory of his wife, who passed away due to cancer. The couple had been married for 33 years and he believes his wife will be ecstatic to know he was donating the win.

Allen and Violet were in their 70s when they won around 11 million dollars. They found the whole experience quite tiring and a big headache . The couple therefore decided it was better to give it all out and handed it all over to friends, charities and hospitals.

To read more on lotto winners, click on the links below:

http://www.thesun.co.uk/sol/homepage/news/5169546/Couple-who-gave-away-5million-of-their-lotto-jackpot.html 

http://money.aol.co.uk/2014/01/30/7-lottery-winners-who-gave-it-all-away/

http://www.dailymail.co.uk/news/article-2525147/Canadian-man-wins-40m-lottery-gives-away-charity-memory-wife-lost-cancer.html

- Katie

The Gambler

Their are people out there that are addicted to the euphoria of winning more money. So imagine a risk taker getting the million dollars to spend as he/she pleases. There are so many ways a person can gamble these days from casinos, lotto, scratchies and sports which are all designed for you to lose your money. So what tactics can you use to get the winning edge? An interesting theory I discovered was involved in the game of 'Craps'. This game allows you to hold, shuffle and throw a pair of dice however you want in the hope that your numbers face up. Apparently there is a technique going around that if mastered could see your earnings skyrocket. Take a read at http://www.cracked.com/article_21806_5-brilliant-hacks-you-can-use-to-cheat-odds-at-gambling.html but know that with gambling you have to be prepared to lose money to make it.


Hope you have enjoyed this story and remember to just leave it to the pro's.

- Sam

Week 3: Stereotypical Stories

Our last Subtopic is confirmed and will address some of the ways stereotypical people would do with the money. You may be confronted with some pretty crazy ideas! Let me clarify that we do not personally suggest you to spend the money like this but instead you could take wisdom from decisions you wouldn't have made yourself. Hope you enjoy the posts to come!

- Sam