From the dream come true, to the nightmare of squandering 900,000 euros in just 4 years. The story of Lisa Arcand.
Winning the lottery is a dream that many people have, the truth is that mismanagement of funds can quickly cause everything to come to nothing, this happened to Lisa Arcand, a single mother from Great Britain who from one day to the next had $930,000 at her disposal.
Between choosing an ostentatious life believing that the money would be there forever, and poor financial decisions, it took 4 years for the woman to declare bankruptcy. But without a doubt, nothing was as harmful as taking the advice of a financial advisor who offered him a very unfavorable deal.
British Lottery
What happened to Lisa Arcand’s fortune
Although the first thing he did when he won the lottery was throw a party for friends and family in which she spared no expenses, including 230 euro bottles of wine, that was not what condemned her. Mainly it was pursuing his dream of owning his own seafood restaurant.
For that, He chose to receive a loan of 182,000 euroswhich would allow him to completely buy the business, in exchange for giving the financial company 1,400 euros per month of his profits. This put her in a very high tax bracket, and it became impossible for her business to be profitable.
In addition, he had enrolled his son in a school that cost 9,000 euros per year, he had bought properties and spent on very expensive vacations. In a very short time, he found himself having to sell most of the things he had bought. In just 6 months he had to close his business and he considers that winning the lottery has been very depressing.
This shows that proper financial management is essential for managing money, regardless of the amount obtained.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
