We all know what we would do if we won the lottery or a multi-million dollar slots jackpot – buy a house, buy a car, travel the world and donate to charity.

Everyone seems to have the same ideas – but some winners are particularly irresponsible with their jackpots.

Don’t Give Into Your Vices

Some of the lottery’s youngest winners spent their fortune partying. Callie Rogers from the United Kingdom went deep into debt after spending a large chunk of her $3 million jackpot on cocaine.

In in the 1980s, Evelyn Adams won the lottery twice, earning $5 million total. Within a few years, she gambled her money away in Las Vegas. In 1992, Michael Carroll spent his £10 million win on drugs and partying. After squandering his millions, he now works in a biscuit factory.

The moral of these stories is – get your addictions in check if you cash in on a big jackpot. Hopefully, a loved one will be around to warn you that you should spend your money on a good therapist before you blow it all on drugs, sex or gambling.

Don’t Splurge

Even millionaires have to be smart with their money – that’s how they stay millionaires. If you’re tempted to buy the world’s fastest car or a blazer bejewelled in diamonds, take a step back and think about your purchases. That luxury spending can add up very quickly.

Don’t Get Cocky

Unless you have some experience in accounting yourself, it is a good idea to invest in the help of a professional to help you manage your money. Many lottery and slots jackpot winners are left to their own devices, and they forget important actions such as investing or even opening up a savings account.

An accountant will help you figure out the best way to invest your jackpot so that you build interest and keep accumulating cash.

Be Generous – But Not Too Generous

In some states, big jackpot winners can keep the news of their winnings quiet. This can be a good idea if you’re worried about friend and family asking you for loans. We understand wanting to help out your loved ones, but things can easily get out of hand.

Take Billie Bob Harrell, for example. In 1997, he won $30 million on the lottery. Within two years, he had given all of his money away to friends and family who never repaid him. There is a very sad ending to this story, as he took his own life in 1999.