Lottery winner avoids putting winnings in savings account for six months

Mozo

Monday 24 August 2009

A lottery winner missed out on six months of interest by not putting his cash in a savings account.

Despite knowing about his success, the un-named man kept his $2 million winnings – or rather his ticket – in a biscuit tin for half a year before coming forward and making a claim, the Daily Telegraph reported.

The New South Wales man told the newspaper how he felt he was not ready to claim the bounty and even considered missing out on another few months’ interest, until he had come to terms with the life-changing fortune.

"When you’re running a small business you never know where the next dollar is coming from," the 48-year-old Newcastle man explained.

"It was a comforting thing to have the ticket as a buffer against anything that might go wrong financially."

The father of four may now place his money in a high interest savings account, after telling the newspaper he intends to make sure his kids are not spoiled by the family’s new-found wealth.

Meanwhile the Sunday Telegraph recently reported on how Australian women are making the most of the cash in their savings accounts by using online services to buy and rent fashion items.

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