What’s more exciting than enrolling in sweepstakes? Winning one. And although it may be tempting to claim your winnings right away, an impulsive decision may not be the best. So, here’s our guide to know how you can go about doing it wisely.
Don’t claim it immediately
Once you receive your prize, your life will not be the same. Hence, it is important to be prepared. First things first, check the time you’ve got to cash in your winnings. Often the amount or value of your winnings will determine the time frame. Also, check the date. If that isn’t specified, then get in touch with the organizer and once that is conveyed to you, exercise patience until close to the end date to claim your prize.
Keep your identity a secret
A sweepstake win is big news. Therefore there’s a possibility you’ll be hounded by all sorts of people — be it individuals and companies seeking charity or media persons wanting to speak to you. Anonymity, thus, is a great option if you desire control over both your identity and your earnings.
Many times anonymity isn’t guaranteed as sweepstakes sponsors prefer announcing the names of the winners to prove that they are authentic. But in some places, you might receive protection of your identity by only revealing your initials. So, check what alternatives are available to you.
Protect your information
If you are unable to remain anonymous post your sweepstake win, try and make it hard for strangers to contact you. You can do this by either changing your phone number, deleting or changing your accounts on social networks, or getting someone you trust on board to help you with managing any queries that may come your way.
Evaluate your personal goals
What are things you’ve always wanted to accomplish but haven’t so far? It’s now time to make that bucket list! Or if you have immediate needs or debt to pay off, this is your chance to finally do that. After you put them on paper, consult a financial planner to guide you through them.
